Saudi-listed Alkhorayef Water and Power Technologies Co. has won a new operations and maintenance (O&M) contract worth 28.98 million Saudi riyals ($7.72 million) from the state-run National Water Company (NWC)

The three-year contract is for water projects in Hafar Al-Batin suburbs, the company said in a statement to the stock exchange.

Future developments related to the contract will be disclosed after the final agreement is signed.

Earlier this month, Alkhorayef Water bagged a SAR33.5 million ($8.92 million) O&M contract from NWC for the Hafar Al-Batin and Al Qaisumah areas.

(Writing by D Madhura; Editing by Anoop Menon)