Naqi Water signs asset-purchase deal for SAR 908,500 poultry project

Naqi Water purchased 230,000 Hy-Line layer chicks

Naqi Water Co. signed an asset-purchase agreement for live assets (layer chicks) with Agricultural Gulf Layer Breeder Co. (GLBCO), as part of the execution plan for its poultry-sector project in Qassim region.

The agreement is estimated to value SAR 908,500, excluding VAT, Naqi Water said in a statement on Tadawul.

The company purchased 230,000 Hy-Line layer chicks for table-egg production, as part of the second phase of the project’s live-supply plan.

The contract will be self-funded, the statement pointed out.

Naqi explained that the move aims to secure the required flocks to begin the rearing cycle and reach commercial production once construction and operational works are completed.

The production capacity associated with this agreement exceeds 60 million eggs annually, raising total project output to nearly 120 million eggs per year, representing four times the production capacity at the time of acquisition.

The company added that this step aligns with its expansion strategy, income diversification plans and the previously announced execution phases of the fully owned poultry project, to boost production, maximize use of rearing facilities, and achieve the project’s operational and strategic goals.

The relevant financial impact of this phase is expected to appear during H2 2026, the company added.