Riyadh –  Alkhorayef Water and Power Technologies Company won a SAR 35.38 million contract for a project in Madinah from the National Water Company (NWC) on 22 November 2022.

Alkhorayef Water will be responsible for the operation and maintenance works of the environmental service network with a central culvert for 36 months, according to a bourse disclosure.

The Tadawul-listed company expected that the project will reflect on its income statements during the first quarter (Q1) of 2023. Meanwhile, the firm will announce any further details regarding the agreement in due time.

Alkhorayef Water recently teamed up with NWC for two deals worth SAR 288.96 million.

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