SISCO subsidiary Kindasa extends contract with Mawani for 5 years

Saudi Industrial Services Company (SISCO) announced that its subsidiary, Kindasa Water Services Company (Kindasa) has received a five-year extension on its existing lease contract with the Saudi Ports Authority (Mawani), to continue its operations of the desalination plant in Jeddah Islamic Port with the same terms and conditions.

The company stated on Wednesday on Tadawul that the existing five-year contract came into effect in June 2022, and now has been extended for an additional 5 years.

It also clarified that financial and accounting impact of this contract on SISCO’s financial statements will be disclosed in due course following review by the external auditors.