Alkhorayef Water explains details of SAR 358 mln operation, maintenance contract in Riyadh region

Logo of Alkhorayef Water and Power Technologies Co.

The consortium of Alkhorayef Water and Power Technologies Co. (AWPT) and France’s Veolia was awarded a management, operation and maintenance (MOM) contract worth SAR 358 million by National Water Co. (NWC).

Under the contract, the consortium will undertake the management, operation and maintenance of water and environmental treatment services in Riyadh region (the city of Riyadh and all its provinces) by raising the operational efficiency and technical knowledge, quality and availability of services and maintenance requirements, AWPT said in a statement to Tadawul.

The contract serves the Riyadh region and the city of Riyadh.

AWPT will own 49% of the company that will operate the project. The relevant financial impact is expected to show in the first quarter of 2022, the company added.

Other developments will be announced in due course after receiving the final contract, which will be signed by all competent parties.

On Sept. 16, NWC said the consortium of AWPT and Veolia won a seven-year MOM contract worth SAR 358 million, Argaam reported.