Naqi Water Co. Announces signing a contract to Purchase Poultry project for producing table eggs in the value of SAR 7,000,000 (Seven Million Saudi Riyals).

In accordance with Naqi’s strategic plan to expand its operating activities and diversify its segmental operations to enhance the company’s revenues, Naqi has signed a contract to purchase a poultry project that produces table eggs.

Naqi Company plans to actively invest in the poultry sector as part of its diversification strategy and due to the strong opportunity for this business.

This investment has been decided as part of Naqi’s plans to diversify its operations and utilize its investing capabilities in the food production sector.

The project consists of owned land, poultry breeding sheds, egg-laying chicken coops, and poultry farming supplies and operating equipment.

In addition to eggs production license issued from the Ministry of Environment, Water and Agriculture.

The project is in Unaizah governorate in Qassim on 447,676 Squared Meter of land.

Naqi will own 100% of the project’s assets. And the total value of the contract will be self-financed by Naqi Water without any external funding.

The financial impact is expected to appear by the first quarter of 2024.