Logo of Kindasa Water Services Co.
Saudi Industrial Services Co. (SISCO) said that its subsidiary, Kindasa Water Services Co., received, on May 16, an extension to its current contract with the Saudi Ports Authority (MAWANI), according to a statement on Tadawul.
The existing contract was extended for additional five years until March 2032 in order to continue operations of the desalination plant in Jeddah Islamic Port with the same terms and conditions.
The current five-year contract came into effect in June 2022, the statement added.
The financial and accounting impact of the new extension on SISCO’s financial statements will be disclosed in due course following review by the external auditors.
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