Sustained Infrastructure Holding Co. — Capital/Financing Update 2019

Nov 24, 2019

Addendum Announcement from Saudi Industrial Services Co. in regards to Latest Developments on one of its affiliate

2190 · 24/11/2019 08:11:01 · Announcement #56849 · View on Saudi Exchange

Addendum Announcement from Saudi Industrial Services Co. in regards to Latest Developments on one of its affiliate

Element List	Explanation
Introduction	Regarding to Saudi Industrial Services Company announcement “SISCO” on 02/03/1441 H corresponding to 30/10/2019 for chosen of A consortium which is equally formed between International Water Distribution Company “Tawzea”( which SISCO owns 50% of its share capital of SAR 146 million in partnership with Saudi Arabian Amiantit Company) and the Spanish company "Cobra Instalaciones y Servicios" as the preferred bidder for Taif Independent Sewerage Plant Project. The Saudi Industrial Services Company (SISCO) announce that the contract has been signed by A consortium with Saudi Water Partnerships Company for plant development on 24 Rabi Al Awwal 1441H, corresponding to 21 November 2019.
Date of Posting the Previous Announcement of Development on Tadawul's Website	2019-10-30 Corresponding to 1441-03-02
Change on the Development	The Contract has been Signed as previously announcement
Financial Impact on the change	The financial impact will be reflected once the project is completed which is expected at the end of 2022 under SISCO's share of results of associates.
Additional Information	The project includes design, build, operate and maintain the plant and transfer the ownership of the project on BOOT basis, along with the development of infrastructure and related facilities. The term of the contract is 25 years with expected investment of approximately 315 million Saudi Riyals. The project will be financed through a Sharia Compliant Islamic Finance Facility. The objective of the project will be to develop a wastewater treatment facility with a capacity up to 100,000 cubic meters per day and expandable to 270,000 cubic meters.

Construction of the project is expected to start during the second quarter of 2020, once the financing agreement with the bank is finalized. Any updates will be announced in due time.

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