Alkhorayef Water signs SAR 77m deals with NWC

Alkhorayef Water signs SAR 77m deals with NWC

Riyadh – Mubasher: Alkhorayef Water and Power Technologies Company has signed two agreements worth a combined value of SAR 77 million with the National Water Company (NWC).

The first deal totals SAR 31.64 million and the second contract amounts to SAR 45.35 million, while they were awarded on 7 and 19 December 2021, respectively, according to a bourse filing on Thursday.

Both deals cover the repair and maintenance works of Riyadh’s emergency network breakage by NWC.

Alkhorayef Water said the contracts were signed on 8 February and carry a 36-month duration period.

The listed company added that the financial impact of the two agreements has started in the first quarter (Q1) of 2022.

Alkhorayef was earlier awarded a contract worth SAR 45 million by NWC.