Logo of International Water Distribution Co. (TAWZEA)
Saudi Industrial Services Co. (SISCO) and Saudi Arabian Amiantit Co. announced that a consortium including their affiliate, International Water Distribution Co. (TAWZEA), signed, on Sept. 14, a contract with National Water Co. (NWC) to manage, operate and maintain water and environmental treatment services in the northern sector of Saudi Arabia.
The sector serves four regions in north Saudi Arabia, and TAWZEA owns 39% of the project’s company to implement the contract, SISCO and Amiantit said in separate bourse statements.
Contract Details
|
Scope |
Manage the operation and maintenance of water services in the northern sector for NWC |
|
Consortium |
International Water Distribution Company Limited (TAWZEA), Spain-based Aqualia and Haji Abdullah Alireza & Co. |
|
TAWZEA’s stake in consortium |
39% |
|
Value |
SAR 400.16 mln, including VAT |
|
Term |
7 years |
|
Award date |
Aug. 21, 2022 |
|
Signing date |
Sept. 14, 2022 |
The financial impact of the project is expected to reflect in Q1 2023.
Any other future developments will be disclosed upon signing the contract, the statements added.
TAWZEA is a SAR 146 million capital company that is equally owned by SISCO and Amiantit, according to data compiled by Argaam.
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