Alkhorayef Water signs 3 deals worth SAR 285M with NWC

Logo of Alkhorayef Water and Power Technologies Co. (AWPT)

Alkhorayef Water and Power Technologies Co. (AWPT) signed today, Feb. 21, three contracts worth SAR 285.34 million, excluding VAT, with the National Water Co. (NWC).

The first contract is worth SAR 102.20 million and covers the operation and maintenance of Makkah's environmental services networks for 60 months.

The second contract, worth SAR 112.60 million (VAT not included), covers the operation and maintenance of Dammam's water and sewage systems for 36 months.

Under the third contract, Alkhorayef Water will operate and maintain the water and sewage water networks for 36 months for SAR 70.54 million.

In statements on Tadawul, the company said that the financial impact started in Q1 2024, with no related parties involved. It received the contracts after all parties signed them today.

Alkhorayef announced these three contracts' award from National Water last January, according to data compiled by Argaam.