Alkhorayef Water wins SAR 60.8 mln contract from NWC

Alkhorayef Water and Power Technologies Co. (AWPT) was awarded today, Nov. 17, a contract worth SAR 60.8 million, exclusive of value-added tax (VAT), by National Water Co. (NWC) to operate and maintain phases one and two of the Madinah-based sewage treatment plant.

In a statement to Tadawul, AWPT said it will perform the operation and maintenance works for the two phases in 36 months.

The financial impact as a result of the blanket purchase orders is expected to show during the first quarter of 2023.

The utility will duly announce any future developments, especially after receiving the final version of the contract signed by all parties.

Before the start of trading today, AWPT announced bagging a contract worth SAR 55.93 million, exclusive of VAT, from NWC to operate and maintain water networks in Jazan region (Southern Sector).