RIYADH, SAUDI ARABIA – Saudi Arabian Amiantit Co and Sustained Infrastructure Holding Co (SISCO) said that their 50:50 joint venture, International Water Distribution Co. (Tawzea) signed two contracts with National Water Co. (NWC).
In two separate statements on Tadawul, Amiantit and SISCO said the first contract was signed on November 23 at a total value of US$54 billion (SAR 199.5 million), VAT exclusive. Under this contract, Tawzea will operate and maintain the water network in Makkah and its governorates.
The term of the contract term is for five years, the companies said.
The second contract was signed by Tawzea on October 12 to operate and maintain wastewater treatment plants in the cities of Dammam and Khobar.
The contract is valued at US$9.3 million (SAR 34.5 million) and is valid for 18 months. The project’s financial impact is predicted to appear in the fourth quarter of 2023.
