Alkhorayef Water signs Riyadh region’s water treatment contract

Logo of Alkhorayef Water and Power Technologies Co.

Alkhorayef Water and Power Technologies Co. (AWPT) signed a management contract worth SAR 358 million for the operation and maintenance of the water and environmental treatment services in the central cluster, Riyadh region, with National Water Co. and Erwaa Water Co., that is owned by the consortium of Alkhorayef Water and France's Veolia Co.

In a bourse statement, the company said it will manage the operation and maintenance of water and environmental treatment services in Riyadh region, through raising the operational efficiency and technical knowledge, as well as quality and availability of services.

The seven-year project will serve Riyadh region and Riyadh city, the statement said, adding that AWPT will own 49% of Erwaa, the contract operator.

The project’s financial impact will appear as of the first quarter of 2022.

The contract does not have any related parties, the company noted.

In September, National Water announced that the consortium of AWPT and France’s Veolia won a seven-year management, operation and maintenance (MOM) contract worth SAR 358 million, Argaam earlier reported.