PIF’s National Water Co. launches $23m environmental project in Qassim

NWC’s goal is to elevate the level of customer service, expand coverage rates for sanitation services, and raise the operational efficiency of services. (Shutterstock)
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Updated 07 December 2022
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PIF’s National Water Co. launches $23m environmental project in Qassim

RIYADH: National Water Co., a joint stock firm fully owned by the Public Investment Fund, has announced the completion of an SR89.8 million ($23 million) environmental project in Saudi Arabia’s central Qassim region. 

The new project will provide sanitation services to a projected 27,000 recipients across 29 neighborhoods in the region. 

In a press release, NWC indicated that networks with a length of 108,634 meters were extended, and 3,519 household connections were implemented across the governorates of Onaizah, Al-Rass, Al-Muthnab, Al-Bukairiyah, Al-Bada’i, Al-Khubra and Riyadh. 

Its sanitation project also includes the construction of a pumping station in Al Bukayriyah Governorate with an estimated capacity of 7,280 cubic meters per day. The station is anticipated to serve over 27,207 citizens. 

The project also falls in line with NWC’s goal to elevate the level of customer service, expand coverage rates for sanitation services, and raise the operational efficiency of services. 

Earlier this year, in August, NWC announced plans to roll out 1,429 projects for tender with a total value exceeding SR108 billion, as part of its strategy to support the Kingdom's five-year plan to develop the sector's infrastructure.   

Terming this as the largest package of projects ever in the water distribution sector, NWC said the announcement is part of its continued plans and programs for developing water and environmental infrastructure.   

This includes expanding the coverage of water and wastewater networks and increasing sewage treatment plant’s capacity, in addition to extending water services coverage to all citizens and residents across the Kingdom regions, it said.   

“The projects will contribute to the realization of the National Water Strategy and Vision 2030’s objectives, diversify the economy and boost overall development,” NWC Acting CEO Nemer M. Al-Shebl said in a statement. 

He noted that these projects will greatly complement the sustainability of water and environmental services. “The water and wastewater coverage will be immensely increased in all Saudi regions following the completion of these projects,” added Al-Shebl. 


Closing Bell: Saudi main market sheds 85 points to finish at 11,098 

Updated 17 February 2026
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Closing Bell: Saudi main market sheds 85 points to finish at 11,098 

RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower in the latest session, falling 85.79 points, or 0.77 percent, to finish at 11,098.06. 

The MSCI Tadawul 30 Index declined 0.63 percent to close at 1,495.23, while the parallel market index Nomu dropped 0.91 percent to 23,548.56.  

Market breadth was firmly negative, with 42 gainers against 218 decliners on the main market. Trading activity saw 226 million shares exchanged, with total turnover reaching SR4.5 billion ($1.19 billion).  

Among the session’s gainers, Tourism Enterprise Co. rose 9.40 percent to SR15.02. SHL Finance Co. advanced 4.51 percent to SR16.00, while Almasar Alshamil for Education Co. gained 3.56 percent to SR23.88.  

Dar Alarkan Real Estate Development Co. added 3.03 percent to SR19.70, and Banque Saudi Fransi climbed 2.61 percent to SR19.30. 

On the losing side, Almasane Alkobra Mining Co. recorded the steepest decline, falling 6.61 percent to SR96.

Al Moammar Information Systems Co. dropped 5.14 percent to SR164.20, while National Company for Learning and Education declined 4.60 percent to SR124.30. Saudi Ceramic Co. slipped 4.14 percent to SR27.30, and Arabian Contracting Services Co. fell 4.12 percent to SR116.50. 

On the announcement front, Saudi Telecom Co. announced the distribution of interim cash dividends for the fourth quarter of 2025 in line with its approved dividend policy.  

The company will distribute SR2.74 billion, equivalent to SR0.55 per share, to shareholders for the quarter.  

The number of shares eligible for dividends stands at approximately 4.99 billion shares. The eligibility date has been set for Feb. 23, with distribution scheduled for March 12.  

The company noted that treasury shares are not entitled to dividends and that payments will be made through Riyad Bank via direct transfer to shareholders’ bank accounts. stc shares last traded at SR44.80, unchanged on the session. 

Separately, National Environmental Recycling Co., known as Tadweer, reported its annual financial results for the year ended Dec. 31, 2025, posting significant growth in revenue and profit.  

Revenue rose 53.5 percent year on year to SR1.24 billion, compared with SR806 million in the previous year. Net profit attributable to shareholders increased 68.4 percent to SR60.9 million, up from SR36.2 million a year earlier, driven by higher sales volumes and operational expansion.

Tadweer shares last traded at SR3.80, up 2.70 percent.