The 36-month contract includes the maintenance of water networks and their ancillaries, according to a Reuters report.
The financial impact of the project started during Q3 2016, it said.
Contractors in the Kingdom have been beset by delays in recovering payment and some projects have stalled as the government grapples with plugging a budget deficit because of lower oil prices.
Khodari estimated in November last year that projects it was working on worth $99.47 million had been delayed due to factors ranging from clients' funding shortages to slow visa issuance.
The government last month said it had settled unpaid bills to the private sector and promised to pay future bills within 60 days of receiving them.