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stc Group Q1 net profit up 11.05%

The Group reported a revenue of $5.12 billion.

SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Tawzea, NWC ink pacts

Tawzea will operate and maintain wastewater treatment plants in the cities of Dammam and Khobar as per the second contract.
By TRENDS Desk
December 5, 2023 11:23 pm
  • Tawzea is a 50:50 joint venture between Saudi Arabian Amiantit Co and Sustained Infrastructure Holding Co.
  • Under the first contract, Tawzea will operate and maintain the water network in Makkah and its governorates.

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.

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