93. Marafiq

Country: Saudi Arabia
Sector: Utilities
President and CEO: Mohammed Berki Al-Zuabi
Market Value: $4.3 billion
Sales: $1.7 billion
Profits: $140 million
Assets: $6.1 billion

Established in 2000, Marafiq provides potable water and seawater for cooling, industrial and sanitary wastewater collection and treatment, and other utility services to clients in the industrial, commercial, residential, and governmental sectors in Jubail and Yanbu in Saudi Arabia. The company’s main shareholders are the Royal Commission for Jubail and Yanbu, SABIC, the Saudi Aramco Power Company, and PIF with a 17.5% stake each. Marafiq has a 3.2% share of the total energy capacity in Saudi Arabia. In 2023, Marafiq announced the completion of the water interconnection project with Saline Water Conversion Corporation, and completed the expansion project of the new wastewater treatment plant in Jubail, with a capacity of 120,000 cubic meters per day.