Alkhorayef Water awarded SAR 90 mln contract by NWC in Madinah

10/01/2023 Argaam

Alkhorayef Water awarded SAR 90 mln contract by NWC in Madinah

Logo of Alkhorayef Water and Power Technologies Co. (AWPT)

Alkhorayef Water and Power Technologies Co. won today, Jan. 10, a contract from National Water Co. (NWC) at a value of SAR 89.83 million (excluding value-added tax), the company said in a statement to Tadawul.

 

Under the 36-month contract, the company will operate and maintain water networks in Madinah.

 

The related impact is expected to be reflected in Alkhorayef Water’s financial statements in Q2 2023.

 

There are no related parties to the deal.

 

The company also said it will duly announce any future developments in this regard, especially after receiving the final version of the agreement signed by all parties concerned.

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