Riyadh – Mubasher: Alkhorayef Water and Power Technologies Company was awarded a contract for operating and maintaining water and sewage networks and their accessories in Buraidah.
The deal holds a duration period of 36 months and is valued at SAR 87.18 million, according to a bourse filing.
Meanwhile, the financial impact is expected to reflect on the listed company’s income statements during the first quarter (Q1) of 2024.
Alkhorayef Water will disclose any future developments regarding the project in due course.
In the first nine months (9M) of 2023, the Saudi company logged net profits valued at SAR 110.33 million, an annual leap of 38.33% from SAR 79.76 million.
Revenues hiked by 118.85% year-on-year (YoY) to SAR 1.20 billion during January-September 2023 from SAR 551.45 million.
