Riyadh — Mubasher: Alkhorayef Water and Power Technologies Company was awarded a water infrastructure rehabilitation contract valued at SAR 80 million, excluding value-added tax.
The agreement was reached with Dammam Airports Company for works to be carried out at King Fahd International Airport.
Under the terms of the 18-month contract, the company will execute a comprehensive scope of work including design, construction, supply, and installation.
The project involves the replacement and rehabilitation of water and sewage infrastructure, encompassing pumps, storage tanks, and reverse osmosis facilities.
Alkhorayef Water will also manage the integration of pipelines, electrical systems, and instrumentation and control works.
The company expects the financial impact of this project to begin appearing in its financial results during the fourth quarter (Q4) of 2026.
Management noted that further updates will be disclosed following the receipt of the final signed contract from all parties involved. No related parties were identified in the transaction.
On 25 August, the listed company signed a SAR 250 million banking facility agreement with the Saudi Arabian branch of Qatar National Bank (QNB).
