Sustained Infrastructure Holding Co. — Capital/Financing Update 2024

Sep 16, 2024

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.

2190 · 16/09/2024 08:02:16 · Announcement #82554 · View on Saudi Exchange

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 List	Explanation
Introduction	Kindasa has extended its lease contract in Jeddah Islamic Port for a further 10 years until 2041.
Date of Announcement of the Award	2024-09-15 Corresponding to 1446-03-12
Contract Subject Matter	Further lease Extension of 10 years for Kindasa in Jeddah Islamic Port
The Entity with Which the Contract was Signed	Jeddah Islamic Port
Date of Signing the Contract	2024-09-15 Corresponding to 1446-03-12
Contract Value	NA
Contract Details	Kindasa 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 Duration	10 years
Financial Impact and the Relevant Period	The 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 Parties	There are no related parties
Additional Information	None
Attached Documents

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