** 71 companies expressed their interest in Yanbu-4 IWP and RFQ has been issued ** Expressions of Interest for Taif ISTP received ** Appointment of Preferred Bidder for the Rabigh 3 IWP Project Announced **

                        

 

 

 

 

 

 

 

 

 

 Dear All,

Looking back over 2018, it is clear to me that we have moved forward and matured as an organization, and I wanted to take this opportunity to thank each and every one of you for your part in contributing to the Company’s success. We have accomplished a lot and these are some of the highlights that come to mind;

 

  •  We launched and signed agreements for the Company’s first major Independent Water Project that was publicly tendered.  Rabigh 3 IWP achieved one of the lowest tariffs ever recorded, not just in KSA but worldwide.
  •  Shuqaiq 3 IWP was also launched in 2018 and will be signed off early in the new year.  It too has one of the lowest tariffs every recorded.
  • We broke the ground on the Country’s first two Independent Sewage Treatment Plants with Dammam ISTP and Jeddah 2 ISTP, both having the lowest tariffs ever recorded in KSA.
  • The country needs water services and you should all be proud for getting us one step closer to achieving this at attractive prices.
  • We have pushed the envelop further by launching these projects with stringent local content requirements creating jobs for our compatriots in KSA and using more and more goods and services provide by local companies.
  • WEC prepared it’s first “Capacity Plan” in coordination with MEWA, SWCC and NWC, and identifying water desalination and sewage treatment plants as well as strategic reservoirs we need to deliver before 2030.
  • We accomplished this despite many roadblocks we’ve had to overcome in procuring projects through the private sector.
  • Our first major construction project we are overseeing - Shuaibah 3.2 Expansion - is on schedule for delivery in Q2 2019, when a further 250,000 cubic meters of water per day is expected to be added to the country’s stock.
  • We’ve made excellent progress in reaching a resolve on a number of contract disputes with our existing projects.
  • We continued to oversee the operations of our existing IWP(P)  projects.
  • We put a new organization structure in place and filled key positions, more than doubling in size with 15 new employees joining us in 2018.
  • We had our first business plan approved by our Board including new vision and mission statements, and then updated our plan for 2019 to 2023 to reflect major developments that took place throughout the year.
  • New and updated policies and procedures have been put in place covering HR, procurement and finance.
  • We successfully relocated to our new offices in Moon Tower, which is a much more conducive business environment, and will facilitate our continued expansion.

 

These are just some of the key highlights, and I know and appreciate that much more has been accomplished.  I recently presented our 2018 accomplishments to our Board of Directors and wanted to share it with you - this is attached.  It clearly shows that all groups at WEC contributed to the Company’s success in 2018.

 

While we have accomplished a lot in 2018, much more still needs to to be done.  In 2018 we successfully issued 4 RfPs.  In 2019 we have to double this and  issue 8 new ones: 4 desalination plants; 2 sewage treatment plants; and, 2 strategic reservoirs. We also have to make sure that the 4 already in the market successfully reach financial close early in 2019 so they start delivering water and treating sewage as planned, and that Shuaibah 3.2 Expansion produces water as planned in 2019.  Our current Capacity Plan requires us to double again in 2020 when we issue even more new RfPs.  Our work load will continue to grow.

 

To deliver this program, we will be adding more resources but all of us will have to continue working closely together as a team to get the job done.  In some situations it may mean working “smarter”, rather than “harder” since we may not be able to get all the resources we want when we need them. 

 

2019 is going to be an exciting year at WEC.  We have an important role to play in making sure that we leverage the private sector to ensure that the Country has access to sufficient drinking water and sewage treatment services when needed.  I know that you will play your part in making this happen, and feel proud not only about what we have achieved to date, but what we plan to deliver in 2019.

 

I look forward to working with everyone in 2019 and achieving another successful year! 

 

Regards,

 

 

 

Khaled bin Zwaid AlQureshi