Alkhorayef Water signs 9 agreements worth SAR 316.6 mln with NWC

Logo of Alkhorayef Water and Power Technologies Co.

Alkhorayef Water and Power Technologies Co. (AWPT) signed today, Sept. 6, nine agreements worth SAR 316.61 million with National Water Co. (NWC) to install new water and wastewater connections in nine regions and sectors across the Kingdom.

The agreements are valid for 36 months, the company said in a statement to Tadawul.

Under these agreements, the new connections will be installed in Riyadh Region Riyadh City Sector, Riyadh Region South Sector, Riyadh Region North Sector, Al Madinah Region, Makkah Region Jeddah Sector, Eastern Region Central Sector, Al-Qassim Region, Hail Region and Tabuk Region.

Revenue from the blanket purchase agreements will depend on the actual demand for new water and waste water connections by end users and on NWC awards to the company.

The relevant financial impact is expected to appear in the third quarter of the year, AWPT added, noting that there are no related parties to these agreements.