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Alkhorayef awarded SAR 358m contract

Alkhorayef awarded SAR 358m contract
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Riyadh – Mubasher: Alkhorayef Water and Power Technologies Company has been awarded a contract worth SAR 358 million from the National Water Company on 16 September.

The consortium of Alkhorayef and Veolia Company of France will manage the operations and maintenance works of the water and environmental treatment services in Riyadh Region, according to a bourse disclosure on Sunday.

Alkhorayef will own 49% of the project company that will operate the development.

The financial impact of the awarded project is expected to reflect on the income statements of the first quarter (Q1) of 2022.

The listed firm noted that it will announce any future developments in due course.