“Miyahuna” signs a partnership agreement for a project in Uzbekistan worth 394 million riyals
Miyahuna Company signed a public-private partnership agreement with the Ministry of Investment, Industry and Trade of the Republic of Uzbekistan, and Ozsoftaminot Joint Stock Company.
According to the company’s statement on the website "Saudi Arabia trading"The signed agreement supports strengthening the initial presence of Miyahuna Company in the water sector in the Republic of Uzbekistan, in addition to providing long-term contractual revenues in line with the company’s strategy for expansion and sustainable growth.
The company had announced on its website "Saudi Arabia trading" On June 15, a memorandum of understanding was signed with the Ministry of Investment, Industry and Trade of the Republic of Uzbekistan and the Ozsoftaminot Joint Stock Company.
The company explained that the memorandum of understanding aims to rehabilitate, operate and maintain the Zamin water treatment plant in the Jizakh region of the Republic of Uzbekistan for a period of (25) years, with a treatment capacity of (50,000) cubic meters per day.
The agreement includes the rehabilitation, operation and maintenance of the Zamin water treatment plant (Zomin EOM Agreement) signed with Ozsoftaminot Joint Stock Company to implement development work for the existing station, in addition to providing operation and maintenance services for a period of (25) years for a water treatment plant with a design capacity of (50,000) cubic meters per day.
The entry into force of the agreement is subject to the issuance of the government decree related to the project in accordance with the regulations and legislation in force in the Republic of Uzbekistan. The total value of the contract is estimated at approximately $105 million (equivalent to approximately 394 million riyals), provided that the final value of the contract is subject to the issuance of the aforementioned government decree.
The financial impact of the project is expected to be reflected positively on the company’s results upon the start of operations, which is expected during the first quarter of 2027.
Miyahuna Company also continues to work on the remaining projects included in the annex to the development agreement, and will announce any fundamental developments in due course in accordance with To relevant regulations and instructions.
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