Riyadh – Alkhorayef Water and Power Technologies Company has been awarded four contracts worth SAR 1.85 billion to enhance water services in Saudi Arabia.
Alkhorayef Water will handle the engineering, procurement, and construction of transmission lines, distribution networks, pumping stations, and reservoirs in the Eastern Region, according to a bourse filing on Thursday.
Two of the projects will be carried out in Dammam at a value of SAR 504.85 million and SAR 592.25 million with a duration period of 24 and 30 months, respectively.
Meanwhile, the two other developments will be implemented in Khobar and Qatif over 30 months at a cost of SAR 499.36 million and SAR 258.75 million, respectively.
The Saudi firm was awarded the contracts from the Ministry of Environment, Water, and Agriculture on 21 April this year, while they were signed on 8 June.
Alkhorayef Water pointed out that the projects will reflect on its financials as of the fourth quarter (Q4) of 2022.
Last April, the listed company signed an operation and maintenance deal with the National Water Company (NWC) at a total value of SAR 195.85 million.
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