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Addendum announcement from Saudi Industrial Services Co (SISCO). related to the awarding of a utility contract for one of its affiliate Companies

Further to the announcement published on Tadawul's website on 23-06-2016 related to the awarding of a utility contract for one of its affiliate Companies Saudi Industrial Services Co. announces addendum as:

SISCO would like to announce that today, Wednesday 6-12-2017; the utility contract to improve and manage the water utility services in Jeddah 2nd & 3rd Industrial cities has been signed between The Saudi Industrial Property Authority (MODON), and the Saudi International Water Distribution Company (TAWZEA), one of SISCO's affiliate companies owned at a 50% share with Amiantit having a total share capital of SAR 146 million.

The duration of this contract is 5 years extendable to 25 years as of the execution date. The total expected revenues resulting from this contract are SAR 100 million over 5 years. The financial impact will appear on the financial statements of SISCO at the end of the 1st Quarter of 2018, the contract will be self-financing and the company will announce further developments, if any, as they arise.




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