Alkhorayef Water inks SAR 115.3 mln contract with Jeddah Municipality

27/06/2021 Argaam

Logo of Alkhorayef Water and Power Technologies Co.

Alkhorayef Water and Power Technologies Co. (AWPT) signed today, June 27, an operation and maintenance contract with Jeddah Municipality for the optimization of north Jeddah stormwater and groundwater level reduction networks, according to a bourse filing.

 

The contract, awarded on May 18, is valued at SAR 115.32 million, including value-added tax (VAT).

 

The contract duration period is 36 calendar months from the date of receiving the site.

 

The financial impact of this project is expected to reflect on H2 2021 financials.

 

There are no related parties, the statement noted.

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