Alkhorayef Water eyes National Water's planned concession contracts: CEO

Rami Moussilli, CEO of Alkhorayef Water and Power Technologies Co.

Alkhorayef Water and Power Technologies Co. is looking forward to winning the concession contracts planned to be offered by the National Water Co. (NWC), to manage the Kingdom's water services sector, CNBC Arabia reported, citing CEO Rami Moussilli.

He added that the company also targets the privatization projects offered by Saudi Water Partnership Co., noting that the water facility privatization market is expected to grow by more than 40% over the next four years.  

Alkhorayef is one of the most qualified local companies to implement these projects, due to its experience and relations with international companies, which enable it to form strategic alliances.

The company is currently competing for the remaining contracts related to the operation and maintenance of treated water services, the CEO said.

After the firm won projects in the Central Region, it is currently working in the Eastern and Western Regions.

Alkhorayef also won long-term contracts for a period from 10 to 15 years, to operate and provide maintenance services for NWC's sewage treatment plants in various regions of the Kingdom.

The company's business portfolio was valued at SAR 1.1 billion in early 2021. During this year, it signed contracts worth more than SAR 1 billion with new customers, including Riyadh Airport Co., Jeddah Municipality, and the Zakat, Tax and Customs Authority (ZATCA).

These new projects last from three to seven years, Moussilli said, noting that the company is working to secure new contracts in the sectors of project services, as well as operation and maintenance services to maintain the growth of its revenues and profits.

Commenting on financing the consortium of Alkhorayef and France’s Veolia, the top executive said the financing will be through the two companies separately, expecting that the banks’ participation in the financing will be 'tiny', as the project focuses not only on fixed assets, but also on technical personnel and providing services to restructure the sector.

The AlKhorayef-Veolia consortium won a seven-year management, operation and maintenance (MOM) contract worth SAR 358 million, Argaam earlier reported.

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).