Alkhorayef Water bags SAR 1.62 bln long term contract in Riyadh

Logo of Alkhorayef Water and Power Technologies Co.

Alkhorayef Water and Power Technologies Co. (AWPT) was awarded on April 17 a long-term contract by the National Water Company in Riyadh to operate and maintain sewage treatment plants in Manfouha, Riyadh.

In a statement to Tadawul, AWPT pointed out that the 15-year (180 months) contract is valued at SAR 1.62 billion; covering three plants namely, Manfouha Northern Sewage Treatment Plant, Manfouha Eastern Sewage Treatment Plant and Al Manfouha Sewage Treatment Plant Phase 4.

AWPT will perform design, rehabilitation works, testing and commissioning, full operation and maintenance, and, handover of the three sewage treatment plants.

The rehabilitation works will be completed in two phases over a total period of 36 months from the start of the contract. This will be in will be in conjugation with 180-month operation and maintenance, the company added, indicating that the total design treatment capacity of the three stations amounts to 700,000 cubic meters per day.

The relevant impact will likely reflect on Q4 2023 financials, AWPT said.

Any material developments will be duly revealed, especially after receiving the final signed version of the agreement, the statement added.