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Alkhorayef Water and Power Technologies Co. Announces the Signing off Rayis – Rabigh Independent Water Transmission Pipeline (IWTP) Build, Operate and Transfer (BOT) Project
| Element List | Explanation |
|---|---|
| Introduction | In reference to the company announcement of its Consortium as preferred bidder on 25/07/2023 corresponding to 07/01/1445H, Alkhorayef Water and Power Technologies Co. announces that the Consortium has signed the Rayis – Rabigh Independent Water Transmission Pipeline (IWTP) Build, Operate and Transfer (BOT) Project) with Saudi Water Partnership Company |
| Date of Announcement of the Award | 2023-09-13 Corresponding to 1445-02-28 |
| Contract Subject Matter | Build, Operate and Transfer (BOT) Independent Water Transmission Pipeline (IWTP) Rayis - Rabigh |
| Date of Signing the Contract | 2023-09-13 Corresponding to 1445-02-28 |
| Contract Value | 7,782,169,000 SAR |
| Contract Details | Rayis – Rabigh IWTP is the first of its kind that will be developed on a Build-Operate-Transfer (BOT) Model in the Kingdom of Saudi Arabia. The project will be developed with a transmission capacity of 500,000 m3/day and a length of 150 km to provide Makkah and Madinah regions with drinking water. Construction will take place in 30 months period and the SPCOD is in Q2 of 2026 for 35 years. Alkhorayef Water and Power Technologies owns 50% of the Consortium. Alkhorayef Water and Power Technologies will now work with the relevant stakeholders to take this project towards financial closing, and any developments in this regard will be announced in due course. Financial impact of this development will start in the Q4 2023. |
| Contract Duration | 450 months |
| Financial Impact and the Relevant Period | The financial impact starts in the Fourth Quarter of 2023. |
| Related Parties | N/A |
| Additional Information | Alkhorayef Water and Power Technologies Co. received the agreement today, Wednesday, 13/09/2023, corresponding to 28/02/1445H. after it was signed by all parties, so accordingly disclosed. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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