- Riyadh, Saudi Arabia – In a strategic move to fortify its position in the water and power sector, Alkhorayef Water and Power Technologies Company has recently announced two significant contract awards with the National Water Company, totaling an impressive SAR 214.79 million.
The first contract, valued at SAR 102.19 million, focuses on the maintenance of environmental services in Makkah over a span of 60 months. This extensive commitment underscores Alkhorayef Water’s dedication to environmental stewardship and sustainable water management. The company’s expertise in delivering top-notch services positions it as a key player in meeting the region’s growing environmental demands.
Simultaneously, Alkhorayef Water secured a second agreement valued at SAR 112.60 million, encompassing a 36-month duration for the operation and maintenance of water services in Dammam. This contract not only highlights the company’s versatility in managing diverse aspects of water infrastructure but also underscores its commitment to providing efficient and reliable water solutions.
Both contracts mark significant milestones for Alkhorayef Water, showcasing its expanding portfolio and contributing substantially to its overall financial outlook. These contracts are anticipated to have a considerable impact on the company’s financial statement during the first quarter (Q1) of 2024.
The company’s ability to secure projects of this magnitude demonstrates its standing as a trusted partner for vital water and power projects in the Kingdom of Saudi Arabia. Alkhorayef Water’s commitment to delivering high-quality services aligns with the broader national goals of ensuring water sustainability and environmental preservation.
These strategic initiatives are in line with Saudi Arabia’s Vision 2030, a comprehensive roadmap for the nation’s future development, which emphasizes sustainability, innovation, and economic diversification. Alkhorayef Water’s contributions to these goals position it as a key player in the realization of the Kingdom’s vision.
As the contracts come into effect, Alkhorayef Water is poised to play a crucial role in the enhancement of water infrastructure, maintenance, and operation, contributing to the overall progress of the water and power sector in Saudi Arabia. The company’s consistent efforts in securing and executing projects of this scale reinforce its reputation as a leader in the region’s water and power industry.
