Alkhorayef Water awarded SAR 33.5 mln contract by NWC

Logo of Alkhorayef Water and Power Technologies Co. (AWPT)

Alkhorayef Water and Power Technologies Co. (AWPT) won today, Jan. 9, a contract from National Water Co. (NWC), at a value of SAR 33.5 million (excluding value-added tax), the company said in a statement to Tadawul.

Under the three-year contract, the company will operate and maintain water networks, water treatment plants, and water wells in Hafar Al-Batin and Al Qaisumah Cities.

The related financial impact is expected to be reflected in Alkhorayef Water’s financial statements in Q2 2023.

There are no related parties to the contract.

 Any future developments will be disclosed in due course, especially after receiving the final version of the agreement signed by all concerned parties, the statement said.