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Saudi Alkhorayef signs 33.9 million riyals worth contract

Saudi Alkhorayef

The Saudi Alkhorayef Water and Power Technologies Company has announced signing a contract for the operation and maintenance of water projects in the governorates of Uqlat Al-Suqur and Duriya, and the villages and cities of Al-Qassim region.

The company sign the contract with the Ministry of Environment, Water and Agriculture, with a value of 33.9 million riyals.

Under the contract, the company will carry out the operation and maintenance of water projects for 36 months.

The company also said in a statement that the financial impact of the project began to be reflected in the third quarter of 2021.

Saudi Alkhorayef

Alkhorayef’s profits after zakat and tax declined by 9.5% in the third quarter of 2021, to 22.34 million riyals. This is compared to about 24.7 million riyals in the same quarter of 2020.

The profits increased by 2.92% in the third quarter of this year compared to a net profit of about 21.7 million riyals in the second quarter of the same year.

Alkhorayef said that the decrease in profits in the third quarter of 2021, on an annual basis, as the it paid the zakat in the third quarter for the first time at 2.2 million riyals.

The zakat declaration had been paid by the parent company, AlKhorayef Group, which had pledged to bear any zakat-related fees. Therefore, no zakat fees were paid during the previous periods.

Saudi private sector

In a related context, the Ministry of Human Resources and Social Development (MHRSD) succeeded in placing more than 1.9 million Saudi workers in the private sector in 2021.

This is the highest ever of Saudi workers in the private sector.

The move came through the ministry’s Saudization decisions, its constant efforts and studies of labor market status and several initiatives and cooperation with private sector establishments and supervisory bodies.

Achieving this goal is a continuation of the ministry’s efforts towards implementing the National Transformation Program and the Kingdom’s Vision 2030.

The aiming to create job opportunities for Saudi nationals in an orderly and equal manner and to provide an appropriate work environment that achieves sustainability and job stability for them.

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