Saudi Industrial Services Co. Announces Contract Sign Off with National Water Company
| Element List | Explanation |
|---|---|
| Introduction | Saudi Industrial Services Company announces the Contract Sign Off between the National Water Company. and a consortium in which one of its associate companies, the International Water Distribution Company Limited (Tawzea), the Saudi Industrial Services Company owns 50% of the sharecapital, and the objective of the project is to manage, operate and maintain water and environmental treatment services in the southern sector for the Kingdom of Saudi Arabia.
The consortium consists of four companies (Aqualia, Acciona, Tawzea And HAACO). |
| Date of Announcement of the Award | 2022-02-21 Corresponding to 1443-07-20 |
| Contract Subject Matter | Management contract for the southern sector in the National Water Company |
| Date of Signing the Contract | 2022-02-21 Corresponding to 1443-07-20 |
| Contract Value | SAR 399 million |
| Contract Details | A management contract for operation and maintenance, through which the consortium Company will manage the operation and maintenance of water and environmental treatment services in the southern sector by raising operational efficiency, technical knowledge, quality and availability of services and maintenance requirements in the sector. The sector serves 4 regions in the south of the Kingdom of Saudi Arabia, and Tawzea owns 23% of the project company to implement the contract. |
| Contract Duration | 7 years |
| Financial Impact and the Relevant Period | The financial impact of the project is expected to be reflected in the fourth quarter of 2022. |
| Related Parties | There are no related parties |
| Additional Information | The company will announce any future developments in this regard at the time. |
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