Saudi Industrial Services Company announced the Contract Sign Off between the National Water Company. and a consortium in which one of the affiliate companies participates, -International Water Distribution Company Limited- (Tawzea), Saudi Industrial Services Company owns 50% of the capital, and the objective of the project is to manage, operate and maintain water and environmental treatment services in the northern sector for the Kingdom of Saudi Arabia by the National Water Company. Date of signing of contract is September 14, 2022 Corresponding to 1444-02-18.

Contract Value SAR 400,162,000 (Including VAT). A contract of management, operation and maintenance, through which the consortium Company will manage the operation and maintenance of water and environmental treatment services in the northern sector by raising operational efficiency, technical knowledge, quality and availability of services and maintenance requirements in the sector. The sector serves 4 regions in the north of the Kingdom of Saudi Arabia, and Tawzea owns 39% of the project's company to implement the contract.

Contract Duration is 7 years. Financial Impact and the Relevant Period is the financial impact of the project is expected to be reflected in the first quarter of 2023.