JEDDAH: National Water Company (NWC) intends to start awarding projects to develop infrastructure of Jeddah and implement a number of drainage networks.
NWC will create water treatment projects and implement a strategy for water tanks, including stations at 62 projects, at an estimated cost of SR9 billion.
The company said in a statement that there are 50 projects, which are under construction, at a cost of SR8 billion, while there are 12 other projects, costing SR1,200 million, which will be awarded in 2015.
NWC has confirmed that it continues to implement a strategic plan to develop Jeddah’s water infrastructure and raise the operational efficiency of the water and environmental sectors with highest quality and performance standards.
NWC works in accordance with studies prepared by the company.
“There are 40 environmental projects at a cost of SR7 billion, including implementation of sub-networks, household drainage connections in north and south of Jeddah, and through the old road of Makkah and Al-Ajaweed district, while the total length of these environmental projects is estimated to be around 150 km,” the statement added.
At the same time, there are ten ongoing water projects in Jeddah costing SR1 billion, which include water networks in a number of Jeddah districts.
The company indicated that it completed the first phase of the strategic storage in Braiman area with a capacity of one million cubic meters, which will start working in the current summer.
The company added that the new projects will be awarded during the current year (2015), while there are 8 ongoing projects, including establishment of water networks in a number of Jeddah districts, which will be completed soon.
NWC is also working to complete the award procedure of other projects to develop sewerage networks and household connections.
National Water Co. implements 62 projects worth SR9 billion
National Water Co. implements 62 projects worth SR9 billion
Closing Bell: Saudi main index closes in red at 10,709
RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Thursday, losing 138.89 points, or 1.28 percent, to close at 10,709.04.
The total trading turnover of the benchmark index was SR6.59 billion ($1.75 billion), as 102 of the listed stocks advanced, while 154 retreated.
The MSCI Tadawul Index decreased, down 22.40 points or 1.52 percent, to close at 1,450.58.
The Kingdom’s parallel market Nomu lost 123.85 points, or 0.54 percent, to close at 22,792.98. This came as 30 of the listed stocks advanced, while 40 retreated.
The best-performing stock was Al-Rajhi Co. for Cooperative Insurance with its share price surging by 9.96 percent to SR74.50.
Other top performers included Jazan Development and Investment Co., which saw its share price rise by 9.89 percent to SR8.33, and Gulf Insurance Group, which saw a 7.48 percent increase to SR23.
On the downside, City Cement Co. and Al Gassim Investment Holding Co. saw declines, with their shares dropping by 5.51 percent and 4.22 percent to SR11.50 and SR13.15, respectively.
On the announcement front, Almoosa Health Co. has signed a construction contract with Almajal Alarabi Group valued at SR608.85 million to complete the electrical, mechanical, and architectural finishing works for the new Almoosa Specialized Hospital in AlHofuf City.
The agreement, finalized on Feb. 26, covers all complementary internal and external works based on approved engineering designs to ensure the facility is fully operationally ready upon completion.
According to a Tadawul statement, work on the project will commence immediately, with an expected completion timeline of 16 months.
Almoosa Health intends to finance the development through a combination of its own resources and long-term Shariah-compliant facilities secured from local banks, with the financial impact anticipated to begin following the hospital’s completion and commissioning.
Almoosa’s share price surged by 4.24 percent to reach SR147.50.
