SISCO-Amiantit’s Tawzea inks 2 contracts with NWC

05/12/2023 Argaam
Logo ofInternational Water Distribution Co. (Tawzea)

Logo of International Water Distribution Co. (Tawzea)

Saudi Arabian Amiantit Co.(Amiantit) and Sustained Infrastructure Holding Co. (SISCO) said that their 50:50 joint venture, International Water Distribution Co. (Tawzea), signed two contracts with National Water Co. (NWC).

 

In two separate statements on Tadawul, Amiantit and SISCO said the first contract was signed on Nov. 23 at a total value of SAR 199.5 million, VAT exclusive. Under this contract, Tawzea will operate and maintain the water network in Makkah and its governorates.

 

The contract term is 60 months, both companies added, expecting the project’s financial impact to show in the first quarter of 2024.

 

The second contract was signed by Tawzea on Oct. 12 to operate and maintain wastewater treatment plants in the cities of Dammam and Khobar.

 

The contract is valued at SAR 34.5 million, VAT exclusive, and is valid for 18 months. The project’s financial impact is predicted to appear in Q4 2023.

 

Tawzea received the contract signed by all parties on Dec. 4.

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