Alkhorayef Water and Power Technologies Co. Announces Contract Award with National Water Company
|Introduction||Alkhorayef Water and Power Technologies Co. Announces the Awarding of Management Contract for managing the operation and maintenance of the water and environmental treatment services in the central cluster (Riyadh Region) by National Water Company to the consortium of Alkhorayef Water and Power Technologies Co, and Veolia Company of France.|
|Date of the Award||2021-09-16 Corresponding to 1443-02-09|
|Contract Value||358,000,000.00 Three hundred and fifty-eight million Saudi riyals.|
|Contract Details||Management Contract through which the company will manage the operation and maintenance of water and environmental treatment services in Riyadh Region by raising the operational efficiency and technical knowledge, quality and availability of services and maintenance requirements, the contract serves the Riyadh region and the city of Riyadh, the capital of the Kingdom of Saudi Arabia, and Alkhorayef Water and Power Technologies Co. will own 49% of the project company that will operate the project.|
|Related Parties||No related parties|
|Additional Information||Financial impact of the new project is expected to take place during first quarter of year 2022 G. |
The company will announce any future developments in this regard at the time, especially after receiving the final version of the agreement contract signed by all parties concerned.
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