“Naqi” signs a contract to establish its new factory in Riyadh for 16.5 million riyals
Naqi Water Company signed a contract to carry out the construction work of its new factory in the city of Riyadh.
According to the company’s statement on the website "Saudi Arabia trading"The scope of the contract includes the implementation of all construction works, including electrical, mechanical, and infrastructure necessary to operate the production lines and the desalination plant, in a way that enhances the factory’s readiness for commercial operation according to the highest technical standards.
This contract comes as a continuation of the company’s previously announced plans to all shareholders to implement and operate its new factory in the city of Riyadh, with the aim of raising production capacity and expanding the scope of its operational operations in line with The company’s growth strategy.
It is noteworthy that the production capacity of the new factory amounts to more than 1 billion packages annually, as this increase represents 70% compared to the current production capacity of the company’s main factory in the Qassim region, in line with the company’s strategy to enhance its market share.
It stated that the start date for establishing the project is 01/11/2025, at a cost It is estimated at 16.5 million riyals.
She noted that the contract was entirely financed from the company’s own resources without the need for external financing.
She indicated that the expected date of completion of the project’s construction is: 11/01/2026.
She expected that the financial impact of this project would be reflected in the financial statements in the fourth quarter of the year. 2026 AD.
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