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Alkhorayef Water signs SAR 43m deal with ministry

Alkhorayef Water signs SAR 43m deal with ministry
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Riyadh – Mubasher: Alkhorayef Water and Power Technologies Company has penned a contract worth SAR 43.1 million with the Ministry of Environment, Water, and Agriculture for the operation and maintenance works of Hail Al Hamemah Water Treatment Plant.

The contract duration is 36 months, the company said in a bourse filing on Thursday, noting that the deal was awarded on 17 August this year.

The financial impact of the deal has started to reflect on Alkhorayef Water’s income statements as of the third quarter (Q3) of 2021.

The listed firm said that all related parties have signed the contract on 24 November.

The deal is considered the fourth consecutive award for Alkhorayef Water to operate and maintain Al Hamemah plant.