Alkhorayef signs with Ministry of Environment, Water and Agriculture for SR 1,8 billion

Alkhorayef Water and Power Technologies Co. announces the signing off contracts of construction of four (4) contracts Water Quality Improvement Projects in Eastern Region with Ministry of Environment, Water and Agriculture – General Directorate of Water Services in the Eastern Province.
The contract value reached SR1, 855,214,413.75 (Including VAT).
The aim of the contract is the execution of Water Quality Improvement Projects in Eastern Region which includes Engineering, Procurement and construction of strategic transmission lines and distribution networks, Pumping stations and strategic reservoirs.
These projects are located in Dammam, Khobar, and Qatif cities with construction duration ranging between 24 to 30 months as detailed in section 3 of this announcement.
Alkhorayef Water and Power Technologies Co. will perform the Construction of four (4) contracts Water Quality Improvement Projects in Eastern Region with Ministry of Environment, Water and Agriculture – General Directorate of Water Services in the Eastern Province, contracts portfolio consists of the following projects:
1- Dammam Water Improvement Project – (2) – North Strategic & Distribution Networks & Reservoirs – Contract value is SR. 504,850,000.00 (Including VAT) and contract period is 24 months.
2- Dammam Water Improvement Project – (5) – South-East Strategic & Distribution Networks & Reservoirs – Contract value is SR. 592,250,000.00 (Including VAT) and contract period is 30 months.
3- Khobar Water Improvement Project -(2) – North-South Strategic & Distribution Networks & Reservoirs – Contract value is SR. 499,364,413.75 (Including VAT) and contract period is 30 months.
4- Qatif Water Improvement Project – (1) – South-East Strategic & Distribution Networks & Reservoirs – Contract value is SR. 258,750,000.00 (Including VAT) and contract period is 30 months.
The financial impact will start in the 4th quarter of 2022 and no related parties, the company said.