Hassana Investment Company - the investment manager of the General Organization for Social Insurance - signed a memorandum of understanding with the Water Transportation and Technologies Company ("WTTCO"), in the presence of key representatives from both parties, with the aim of enhancing cooperation opportunities in the transportation and strategic storage of water within the Kingdom.
The memorandum was signed by Hassana, Chief Investment Officer of Regional Investments, Ahmed Al-Qahtani, and by WTTCO CEO, Dr. Tariq Al-Naeem.
Hassana and WTTCO will work to achieve the aspirations and goals of the Kingdom's Vision 2030 for the water sector, by pursuing strategic investment opportunities to develop advanced water transportation and storage projects, which are expected to be worth 30 billion Saudi riyals, providing significant returns for the water infrastructure in the Kingdom. This cooperation also represents an ambitious step forward in meeting the needs of water infrastructure and creating investment opportunities in the infrastructure sector in the Kingdom.
The combination of Hassana and WTTCO's water technology expertise, resources and shared vision will play a pivotal role in transforming the water sector and ensuring a sustainable and prosperous future for all.
It is noteworthy that the Hassana Investment Company manages one of the major investment portfolios across various types of assets in the regional and international markets, while the Water Transportation and Technologies Company is owned by the government, and aims to develop, implement, manage and operate water transportation and storage systems networks in the Kingdom.