Naqi Water buys industrial property of its Riyadh water plant at SAR 6.15 mln

06/06/2023 Argaam
One of Naqi Water production line

One of Naqi Water production line

Naqi Water Co. said that the industrial property of the company's water factory in Riyadh was acquired at a value of SAR 6.15 million.

 

In a Tadawul statement today, June 6, Naqi Water pointed out that there is no financial impact of this change, noting there are no related parties.

 

According to data available on Argaam, the company announced, in late May, the commencement of construction of a new factory in Riyadh and signed a contract to acquire an industrial property with all its facilities.

 

The acquisition took place as the property was already equipped with the necessary infrastructure to kick off production lines.

 

Located in Riyadh Second Industrial City, the industrial property belongs to the Saudi Authority for Industrial Cities and Technology Zones (MODON).

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