SISCO announces that its subsidiary Kindasa has extended its contract with the Saudi Ports Authority (Mawani)
| Element List | Explanation |
|---|---|
| Introduction | Saudi Industrial Services Company (SISCO) announces that its subsidiary, Kindasa Water Services Company (Kindasa) has received an extension on its current contract with the Saudi Ports Authority (Mawani) |
| Date of Announcement of the Award | 2023-05-16 Corresponding to 1444-10-26 |
| Contract Subject Matter | Kindasa’s contract extension with the Saudi Ports Authority (Mawani) |
| Date of Signing the Contract | 2023-05-14 Corresponding to 1444-10-24 |
| Contract Value | Not applicable |
| Contract Details | Saudi Industrial Services Company (SISCO) is pleased to announce that its subsidiary, Kindasa Water Services Company (Kindasa) has received a five-year extension on its existing lease contract with the Saudi Ports Authority (Mawani), to continue its operations of the desalination plant in Jeddah Islamic Port with the same terms and conditions.
The existing five-year contract came into effect in June 2022, and now has been extended for an additional 5 years. |
| Contract Duration | Extended to March 2032 |
| Financial Impact and the Relevant Period | The financial and accounting impact of this contract on SISCO’s financial statements will be disclosed in due course following review by the external auditors. |
| Related Parties | None |
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