Saudi-based Alkhorayef Water and Power Technologies Company has announced that it has secured a key contract worth SR35.4 million ($9.4 million) from the National Water Company (NWC) for the operation and maintenance of the water sector in Madinah city.

 

As per the contract, Alkhorayef Water and Power Technologies will perform the works related to the operation and maintenance of sewage network in the Saudi city for a three-year period, stated the company in its filing to the Saudi bourse. 

 

The 36-month agreement was awarded in November last year but the Saudi company officially signed the agreement last week, it stated.  

 

The financial impact of the contract got reflected during the first quarter of 2023.-TradeArabia News Service