Alkhorayef Water bags 2 contracts worth SAR 214.8M with NWC

Logo of Alkhorayef Water and Power Technologies Co.

Alkhorayef Water and Power Technologies Co. (AWPT) won two contracts worth SAR 214.8 million, excluding value-added tax (VAT), with National Water Co. (NWC), according to two separate statements to Tadawul.

Under the first contract, AWPT will carry out the execution of water and sewage operation and maintenance works in Dammam for 36 months for SAR 112.6 million (VAT exclusive).

AWPT, under the second contract, will conduct operation and maintenance works for the environmental services networks system in Makkah for a duration of 60 months, with a value of SAR 102.2 million (VAT exclusive).

The relevant financial impact is expected to show in Q1 2024.

There are no related parties to the deal, AWPT added.

The company will announce future developments, particularly after receiving and signing the final contract copy with all relevant parties.