Logo of Naqi Water Co.
Naqi Water Co. started construction of a new factory in Riyadh and signed a contract to acquire an industrial property with all its facilities, it said in a Tadawul statement today, May 29.
The property was acquired as it was ready with complete infrastructure necessary to begin production lines.
The property is in Riyadh Second Industrial City and belongs to the Saudi Authority for Industrial Cities and Technology Zones (MODON).
The contract value and the factory's construction costs will be self-financed by the company without the need for any external financing.
The financial impact of the new factory in Riyadh is expected to start by the end of the first quarter of 2024, the statement added.
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