RIYADH: The Saudi Water Authority will host the “Localizing the Water Industry: Knowledge Transfer and Capacity Building” ceremony on Wednesday in Riyadh, in collaboration with government entities and local and international companies. The event marks a major step in localizing strategic water industry components and technologies. The ceremony will include the signing of agreements to establish seven new manufacturing plants. Together with an existing facility, these will bring the total to eight major national manufacturing facilities, the Saudi Press Agency reported. The ceremony will be attended by ministers, senior government officials, ambassadors and chief executives. It reflects a shift in localization efforts from presenting opportunities to implementing projects, and from meeting demand through imports to building strong local industrial and technological capabilities that can compete domestically and globally. The promising investment opportunities program for localizing water-related industries and services includes 18 opportunities focused on priority industries in the water sector. Local demand for these industries is expected to exceed SR15 billion ($4 billion) over the next five years, while the Middle East and North Africa market is estimated at approximately SR65 billion. The program supports the objectives of Saudi Vision 2030, the National Water Strategy and the National Industrial Strategy by strengthening water security, enhancing supply chain reliability, developing local content and supporting non-oil exports.