RIYADH: Alkhorayef Water and Power Technologies Co. has been granted a 15-year contract worth SR2.2 billion ($580 billion) by the National Water Co. to operate and maintain sewage plants in Riyadh’s Heet and Al-Hayer. AWPT revealed that the project’s financial impacts will be reflected in the second quarter of 2024, according to a Tadawul statement. Under the deal, the company will design, rehabilitate, test, and maintain four sewage plants in Heet and Al-Hayer, with a combined treatment capacity of 780,000 cubic meters daily, the statement added. The company further noted that rehabilitation of these plants will occur in two phases over 36 months, while operation and maintenance will start from the contract’s inception. Earlier this month, AWPT revealed that its net profit for the first nine months of this year climbed by 38 percent to SR110.3 million, compared to the same period in 2022. On the other hand, the company’s profit for the third quarter also surged by 49 percent to SR42 million, compared to the year-ago period.