Consortium including SISCO’s unit, Saudi Amiantit inks deal for 3 plants
The 25-year agreement covers three plants: Buraydah, Tabuk, and Madina
Image used for illustrative purpose. Workers walk outside a desalination plant, 35 km south of Riyadh, May 4, 2011.
By Staff Writer, Mubasher
Riyadh – Saudi Industrial Services Company (SISCO) and Saudi Arabian Amiantit Company announced that the consortium including their associate International Water Distribution Company (Tawzea) signed a contract with the Saudi Water Partnerships Company on Sunday, 26 September.
The 25-year agreement covers three plants: Buraydah, Tabuk, and Madina, the two listed firms said in separate disclosures on Monday.
The project includes designing, building, operating, and the maintenance works of the plants.
Construction of the project is expected to commence during the second quarter (Q2) of 2022, once finalising the funding agreements with the banks that will finance the project.
SISCO and Amiantit said the financial impact is expected to reflect on the income statements of the firms once the project is completed as estimated at the end of 2024.
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