Saudi Arabia’s NWC awards fresh round of contracts to local firm
The duration of the contracts is 36 months, the company said
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By Staff Writer, Arab News
JEDDAH: Saudi Arabia’s National Water Co. on Monday awarded nine contracts worth SR316.61 million ($84.41 million) to Alkhorayef Water and Power Technologies Co. for the construction of water and wastewater lines in nine regions and sectors across the Kingdom, Argaam reported.
The duration of the contracts is 36 months, the company said in a statement to Tadawul.
The new lines will be constructed in the Riyadh region, Riyadh city sector, Riyadh region south sector, Riyadh region north sector, the Madinah Region, the Makkah region in the Jeddah sector, the Eastern region’s central sector, the Qassim, Hail, and Tabuk regions.
The company said revenue from the agreements will depend on the actual demand for new water and wastewater connections by end-users and on NWC awards to the company.
The company expects that the financial impact of the agreement will be reflected in the third quarter of 2021, noting that there are no related parties.
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