Alkhorayef Water wins SAR 2.2 bln contract with NWC

Logo of Alkhorayef Water and Power Technologies Co. (AWPT)

Alkhorayef Water and Power Technologies Co. (AWPT) won a 15-year contract, worth SAR 2.2 billion (VAT exclusive), with the National Water Co. (NWC) for the long-term operation and maintenance of the independent sewage treatment plants (ISTPs) in Heet and Al Haer, Riyadh.

The company expects the project's financial impact to be reflected in the second quarter of 2024, according to a statement on Tadawul today, Nov. 7, noting that there are no related parties. It will announce any further developments after receiving and signing the final contract by all parties involved.

Under the contract, AWPT will design, rehabilitate, test, and maintain the four existing wastewater treatment plants, namely Heet 1, Heet 2, Heet 3 and Al Haer ISTP. The design and rehabilitation work will be carried out over two phases, extending 36 months. This is alongside the operation and maintenance starting from the contract's inception, lasting 15 years (180 months).

The combined treatment capacity of the plants is 780,000 cubic meters per day.