SISCO, Amiantit say TAWZEA awarded SAR 400.2 mln project

Logo of Saudi Industrial Services Co. (SISCO)

Saudi Industrial Services Co. (SISCO) and Saudi Arabian Amiantit Co. announced that a consortium including their affiliate, International Water Distribution Co. (TAWZEA), was awarded by National Water Co. (NWC) a project to manage, operate and maintain water and environmental treatment services in the northern sector of Saudi Arabia.

The seven-year contract is valued at SAR 400.2 million, SISCO and Amiantit said in separate bourse statements, adding that the consortium consists of three companies: Spain-based Aqualia, TAWZEA and Haji Abdullah Alireza & Co.

According to the contract, the consortium will manage the operation and maintenance of water and environment treatment services in the northern sector by raising operational efficiency, technical knowledge, quality and availability of services and oversee maintenance requirements in the sector.

No related parties are included in the deal and financial impact as well as any other future developments will be disclosed upon signing the contract, the Saudi-listed firms said.

TAWZEA is a SAR 146 million capital company that is equally owned by SISCO and Amiantit, according to data compiled by Argaam.