Alkhorayef Water wins $14.90mln project from NWC

Alkhorayef Water wins $14.90mln project from NWC

Alkhorayef Water and Power Technologies Company was awarded a SAR 55.93 million project from the National Water Company (NWC) on 16 November 2022.

Alkhorayef Water will handle the operation and maintenance works of Jazan Water projects for 36 months, according to a bourse disclosure.

The Tadawul-listed firm expected that the project will reflect on its income statements during the first quarter (Q1) of 2023. Meanwhile, the company will disclose any further developments regarding the agreement in due time.

Earlier this week, Alkhorayef Water purchased a new building in Riyadh at a total value of SAR 86.25 million, which will be financed through facilities from the Saudi Investment Bank (SAIB)

Last September, the two companies signed a deal worth SAR 45.64 million for the operation and maintenance works in Al Baha region.

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