Alkhorayef achieves financial close for $431m Riyadh sewage plants
DUBAI, March 19, 2024
Saudi-based Alkhorayef Water and Power Technologies Company has announced that it has successfully achieved the financial closing for Long-Term Operation and Maintenance (LTOM) contract for three sewage treatment plants (STPs) in Manfouha, Riyadh.
The STPs in this package are: Manfouha North STP (MNN), Manfouha East STP (MNE) and Manfouha Phase 4 STP (MN4).
The financial closing comes on the back of the signing of a LTOM contract worth over SR1.62 billion ($431 million) with the National Water Company last year, said Alkhorayef Water and Power Technologies Company in its filing to the Saudi bourse Tadawul.
As per the deal, Alkhorayef will be responsible for providing design services, rehabilitation works, testing and commissioning as well as full operation and maintenance and handover of all three sewage plants in Manfouha, Riyadh.
The rehabilitation work will be completed in two phases within a three-year period and also the operation and maintenance services for 15 years from contract date, in conjunction with commencement of rehabilitation work, said the company in its filing.
On completion, these plants will boast a total treatment capacity of 700,000 cu m per day, it added.-TradeArabia News Service
