Alkhorayef Water and Power Technologies Co. (AWPT) has been awarded this contract with a value of SAR 499.36 million. The contract duration is 30 months.
Bids are currently under evaluation for the main contract on this scheme.
Alkhorayef Water and Power Technologies Co. (AWPT) has signed the main construction contract on June 8, 2022 for this project with the Client. The construction period ranges between 24 and 30 months. Alkhorayef has also signed a Sharia-compliant financing agreement worth SAR 256.97 million with Riyad Bank to fund the water network projects in Al Khobar, in addition to the strategic water network and reservoirs in the north and south of Al Khobar. The loan facility tenor will end on Dec. 31, 2024.
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