Naqi Water relocates planned water bottling plant to Tabuk

Logo of Naqi Water Co.

Naqi Water Co. updated its lease agreement with the Saudi Authority for Industrial Cities and Technology Zones (MODON), shifting its planned water bottling plant from Jazan Industrial City to Tabuk Industrial City after reviewing its expansion plans and operational strategy.

The 20-year lease covers a 27,317-square-meter (sqm) plot, with a total contract value of SAR 546,340, excluding VAT, and an annual lease payment of SAR 27,320. The financial impact is expected in the second half of 2026, according to a Tadawul filing today, March 9.

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Naqi Water said the relocation will not result in extra costs. The company will disclose the related financial impact once all regulatory and operational steps are complete and provide updates on the plant’s development and commissioning.

The shift aligns with Naqi Water’s strategy to boost efficiency, optimize supply chains, and expand its footprint. The company aims to execute projects to the highest standards, create shareholder value, and meet rising demand.

Naqi Water said all expansion decisions are based on thorough studies to maximize efficiency and returns while ensuring sustainable growth.

In May 2024, Naqi Water signed a 20-year lease with MODON for a 15,150-sqm plot in Jazan to build a bottled water plant. The total contract value for the agreed-upon period is SAR 302,980 (VAT exclusive), totaling SAR 15,150 annually, according to Argaam’s data.