The move will bring back in NI Water ownership of all clean water production in Northern Ireland.
Kellie Armstrong MLA, Alliance Party Infrastructure Spokesperson, said: “This is a welcome move that should instil greater consumer confidence, both in terms of cost and water quality going forward.
“A move that could easily happen in the background without the general public recognising the importance, this sale will have a positive effect on running costs allowing the company to invest in service delivery elsewhere. The NI Water Team is showing how effectively it can work, having already shown how to create efficiencies through stringent cost saving measures.
“Water charges are currently covered by the block grant received from the UK Government each year, which means annually this is money that could be re-directed to health, education and other vital services. With this in mind it’s worth noting that any initiative designed to save money will be of financial benefit to everyone in Northern Ireland.”