Abdullah A M Al-Khodari Sons Company, a Saudi construction and contracting firm, said it was awarded a SR239.8m ($64m) contract to provide waste handling services for one of Jeddah’s municipalities.

The contract runs over a five-year period and will lift this year’s awards in the waste services business unit to SR420.2m, the Al Khobar-based contracting company said today in a statement to the Saudi Stock Exchange. It did not specify the starting date.

Al-Khodari shares surged for a fifth consecutive day to a three-month high, gaining 2.4 per cent to SR34.5 at 12:38pm. in Riyadh, giving the company a market value of SR1.84bn.