---
id: "sisco:1:351"
title: "SISCO Holding is pleased to announce the signing of a Contract between Kindasa Water Services and the Saudi Port Authority (Mawani)"
language: "en"
url: "https://sisco.uxpan.net/en/media/press/view/kindasa-mawani-contract-extension-2024/"
published_at: "2024-09-16T10:40:00+00:00"
updated_at: "2026-10-12T02:24:42+00:00"
knowledge_approval: "not_assessed"
content_sha256: "41e9627b113960136e965afabef7beebc69e15b4a6d7bb003a4bb08e3a404e5f"
---

# SISCO Holding is pleased to announce the signing of a Contract between Kindasa Water Services and the Saudi Port Authority (Mawani)

[Original page](<https://sisco.uxpan.net/en/media/press/view/kindasa-mawani-contract-extension-2024/>)

2024-09-16

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.

<table><thead><tr><th>Element List</th><th>Explanation</th></tr></thead><tbody><tr><td>Introduction</td><td>Kindasa has extended its lease contract in Jeddah Islamic Port for a further 10 years until 2041.</td></tr><tr><td>Date of Announcement of the Award</td><td>2024-09-15 Corresponding to 1446-03-12</td></tr><tr><td>Contract Subject Matter</td><td>Further lease Extension of 10 years for Kindasa in Jeddah Islamic Port</td></tr><tr><td>The Entity with Which the Contract was Signed</td><td>Jeddah Islamic Port</td></tr><tr><td>Date of Signing the Contract</td><td>2024-09-15 Corresponding to 1446-03-12</td></tr><tr><td>Contract Value</td><td>NA</td></tr><tr><td>Contract Details</td><td>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.</td></tr><tr><td>Contract Duration</td><td>10 years</td></tr><tr><td>Financial Impact and the Relevant Period</td><td>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.</td></tr><tr><td>Related Parties</td><td>There are no related parties</td></tr><tr><td>Additional Information</td><td>None</td></tr><tr><td>Attached Documents</td><td><a href="https://www.saudiexchange.sa/Resources/fsPdf/7191_399_2024-09-16_07-13-12_en.pdf"></a></td></tr></tbody></table>

- [7191_399_2024-09-16_07-13-12_en.pdf](<https://www.saudiexchange.sa/Resources/fsPdf/7191_399_2024-09-16_07-13-12_en.pdf>)