Alkhorayef, consortium sign SAR 579m deals with National Water

Alkhorayef, consortium sign SAR 579m deals with National Water

Saudi Arabia’s National Water Company has signed contracts worth a total of SAR 579 million with the consortiums of both and Miahona Company, according to a press release. The contract with Alkhorayef is valued at SAR 358 million, along with Erwaa Water Company, owned by the consortium of the listed firm and France’s Veolia Company, according to a bourse disclosure on Tadawul. National Water’s deal with Alkhorayef holds 84-month duration, which has started from the date of signing the contract on 21 November 2021. The company will be responsible for carrying out the operation and maintenance works in Riyadh. National Water noted that the financial impact of signing the deal will reflect on the income statements of the first quarter (Q1) next year. The second deal totals SAR 221 million in value and was signed between the National Water and a consortium comprising Saudi Arabia's Miahona, France's Saur Group, and Philippine’s Manila Water. This contract covers the operation and maintenance works in the Eastern Province. Last month, the for a period of seven years.