Naqi Water Co. announced today, Nov. 5, the commencement of production, distribution, and sale of table eggs from its recently acquired poultry project.
The current revenues mark the beginning of the production process, the company said in a statement to Tadawul today.
Naqi Water also stated that the financial impact of the project is expected to appear in the fourth quarter of 2023, underscoring its commitment to its plan to increase production and sales capacity.
In July, Naqi Water signed a contract to acquire a poultry project for egg production from Abdullah bin Saleh bin Abdullah Al-Bethi for Poultry in Qassim for SAR 7 million, according to data available on Argaam.
The company also signed a SAR 2.4 million agreement to supply 103,000 Lohmann egg-laying hens. The supply agreement will help raise the abovementioned project’s capacity from 42% at present to 85%, which will boost production capacity by 161%.