Saudi Arabian Amiantit Co. (Amiantit) and Saudi Industrial Services Co. (SISCO) have awarded a ten-year usufruct contract to the International Water Distribution Co. (Tawzea) and Saudi Industry Property Authority (Modon), according to a bourse statement.
Under the contract, Tawzea and Modon will undertake improving water facilities in Jeddah’s second and third industrial cities.
Relevant financial impact will be reflected on FY17 earnings, SISCO and Amiantit said in a joint statement.
Tawzea, established in 2005, has a capital of SAR 146 million and is equally owned by SISCO and Amiantit.
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