RIYADH: Shares of Saudi Arabia's Alkhorayef Water and Power Technologies Co. rose 3.14 percent at SR101.80 ($27) as of 12:27 p.m. Saudi time, following an award of four contracts.
The company has secured these four contracts worth SR1.9 billion ($506 million) from the Ministry of Environment, Water and Agriculture for water quality improvement projects in the Eastern Province.
The firm will design, procure and build transmission lines, distribution networks, pumping stations, and strategic reservoirs, according to a company statement in Tadawul.
The projects are located in the cities of Dammam, Khobar, and Qatif and are slated for completion within 24 to 30 months.
