Saudi Arabian Amiantit Co. announced that the “International Company for Water Distribution” “Tawzea”, which Amiantit owns 50% of its shares, has signed on Saturday, 18th October 2008 an agreement at value of SAR 165 million, for the development and operation of infrastructure in industrial estates utilities.

The new agreement is part of the project of operation and rehabilitation of potable water and drainage networks in the industrial estates in Jeddah, Riyadh and Qassim, which Tawzea has previously signed with the Saudi Organization for Industrial Estates and Technology Zones. The project will start operations by the end of the first quarter 2009, and will reflects positively on Amiantit’s income and profits in 2009.