The Saudi Water Partnership Company was established pursuant to Supreme Economic Council Resolution No. (23/5) Maps 3/23/1423 AH, as a limited liability company in 2003 AD, with a 50% shareholding for both the Saline Water Conversion Corporation and the Saudi Electricity Company. The water company was established to purchase electricity from private projects, sell water to the Saline Water Conversion Corporation and the National Electricity Company, and sell electricity to the Saudi Electricity Company. On the date of 8/5/1438 AH, Council of Ministers Resolution No. (494) was issued, expanding the scope of the company’s work and becoming the main buyer of the aircraft, to include the purchase of desalinated water, purification, treatment, etc., in addition to dual production. The Ministry of Finance provided the necessary credit support to the company to enable it to sign long-term purchase contracts in accordance with the principles contained in Council of Ministers Resolution No. (181) dated 6/9/1425 AH, and in accordance with the terms and conditions determined by His Excellency the Minister of Finance, as the ownership of the company was completely transferred to Ministry of Finance