Marafiq's successes as a pioneering private utility company vindicate once more the government’s decision almost 30 years ago to build the two industrial cities of Jubail and Yanbu in order to diversify its income and reduce its reliance on the oil sector.

 

The industrial cities of Jubail and Yanbu have grown into two beacons of light on the Kingdom's road to national economic development and privatisation. The two cities have been a resounding success in establishing an industrial support base and infrastructure to encourage domestic and international investment in primary and secondary industries, and provide job opportunities for Saudi nationals. With initiatives such as the formation of Marafiq, the Kingdom has been able to sustain its growth and development programme, keep pace with global economic changes and requirements and supply existing and future industries with essential services at competitive prices.

 

The power and water industry in Saudi Arabia is set to play an increasingly important role in the Kingdom's privatisation programme. Marafiq has been striving from the outset to meet the government's privatisation objectives in terms of the Council of Ministers' Decision of August 1997. As the first private integrated public utility company in the Kingdom, Marafiq finds itself at the spearhead of the national drive to privatise public enterprises that are economically viable and sustainable. In particular, it is doing everything possible to meet the national objectives of improving the efficiency of our economy and enhancing its competitive ability, encouraging private sector investment and effective participation in the national economy, enlarging the ownership of productive assets by Saudi citizens, encouraging domestic and foreign capital investment in our projects, increasing employment opportunities, providing timely and cost-effective services to our citizens and investors, and reducing the burden on the national budget by providing opportunities to finance, operate and maintain utility services in the power and water sector.

 

Marafiq has succeeded admirably in laying a solid foundation. It can now look forward to continue building on its strong foundation of competitiveness, and to spearhead the national drive to privatise public enterprises that are economically viable and sustainable.

 

 

 

 

His Highness Prince Saud Bin Abdullah Bin Thunnayan Al-Saud
Chairman