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Alkhorayef Water pens SAR 61m deal with Zakat authority

Alkhorayef Water pens SAR 61m deal with Zakat authority
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Riyadh – Mubasher: Alkhorayef Water and Power Technologies Company has signed a contract worth SAR 60.96 million, including the value-added tax (VAT), with the Saudi Zakat, Tax and Customs Authority.

Alkhorayef Water will be assigned for the operation and maintenance works of water and wastewater treatment plants and their related services at all land ports of Saudi Arabia, according to a bourse disclosure on Tuesday.

The contract was awarded on 3 October and has been signed on 19 October this year, holding a 36-month duration period.

The listed company noted that the financial impact of the contract has started to reflect on the income statements during the fourth quarter (Q4) of 2021.