SISCO Holding is pleased to announce the signing of a Contract between Kindasa Water Services and the Saudi Port Authority (Mawani)

  1. Home
  2. media
  3. Press Release
  4. SISCO Holding is pleased to announce the signing of a Contract between Kindasa Water Services and the Saudi Port Authority (Mawani)

SISCO Holding is pleased to announce the signing of a Contract between Kindasa Water Services and the Saudi Port Authority (Mawani)

Sustained Infrastructure Holding Co. (SISCO Holding) is pleased to announce the signing of a Contract between Kindasa Water Services, one of SISCO’s consolidated portfolio companies in the water sector, in which SISCO owns a 65% equity stake, and the Saudi Port Authority (Mawani) to extend its lease in the Jeddah Islamic Port.

Element ListExplanation
IntroductionKindasa has extended its lease contract in Jeddah Islamic Port for a further 10 years until 2041.
Date of Announcement of the Award2024-09-15 Corresponding to 1446-03-12
Contract Subject MatterFurther lease Extension of 10 years for Kindasa in Jeddah Islamic Port
The Entity with Which the Contract was SignedJeddah Islamic Port
Date of Signing the Contract2024-09-15 Corresponding to 1446-03-12
Contract ValueNA
Contract DetailsKindasa announces the extension of its contract for its desalination site in Jeddah Islamic Port with Mawani until 2041. The current contract was expected to expire in 2032.
Contract Duration10 years
Financial Impact and the Relevant PeriodThe extension of the lease is expected to reduce Kindasa’s annual depreciation charge which will have a positive impact on Kindasa’s financial statements.
Related PartiesThere are no related parties
Additional InformationNone
Attached Documents
16 / 09 / 2024 Financial