‎Alkhorayef Water inks SAR 55.9 mln contract with NWC to operate, maintain water networks

‎Alkhorayef Water inks SAR 55.9 mln contract with NWC to operate, maintain water networks

Alkhorayef Water and Power Technologies Co. (AWPT) announced that it signed, on Nov. 16, a contract worth SAR 55.93 million (excluding VAT) for the operation and maintenance of water networks in Jazan region (southern sector) with National Water Co. (NWC), according to a statement on Tadawul.

The Company added that it will perform the works related to the operation and maintenance of Jazan Water projects (southern sector) for 36 months, indicating that there are no related parties.

The financial impact of the project is expected to take place during the first quarter of 2023.

AlKhorayef will announce any future developments at the time, especially after receiving the final version of the contract signed by all parties concerned.