RIYADH: Alkhorayef Water and Power Technologies Co. is expected to record SR840 million ($224 million) in revenue for 2022, as it currently has SR4 billion worth of projects in its pipeline.
The company’s CEO, Rami Moussilli, told Argaam that revenue is anticipated to grow to SR480 million in the second half of the year, and hit as high as SR1.25 billion in the following year.
Alkhorayef Water’s profit reached SR52 million and its revenue stood at SR358 million in the first half of 2022, due to higher income from the water and integrated water solutions sectors by 2.9 and 226 percent, respectively.
Moussilli attributed the profit jump to the implementation of projects awarded last year, including the King Abdullah bin Abdulaziz project for Zamzam water in Makkah, and the upgrade of King Khalid International Airport’s sewage network.
According to the executive, the firm has over SR4 billion worth of contracts in its pipeline, with 75 projects in progress across 11 regions in the Kingdom.