Naqi Water signs SAR 14.2M contracts to buy equipment, machinery for poultry segment

Logo of Naqi Water Co.

Naqi Water Co. signed today, June 10, contracts to purchase machinery and equipment for its poultry segment, with Germany’s Big Dutchman International GmbH and Netherlands-based Prinzen, a Vencomatic Group company, for SAR 14.22 million.

The deal will be financed from the company’s internal resources. It came as part of the company's expansion plan for its poultry houses to increase production efficiency as well as automate the egg production cycle and product grading processes, Naqi Water said in a statement to Tadawul.

For more news on listed companies

The assets purchased are part of the company's plan to expand the production of table eggs and contribute to the Kingdom’s food security. This will be achieved by stepping up its producing poultry capacity and table egg productivity using the latest industry tech.

This asset buyout targets boosting the capacity of Naqi Water’s poultry segment by 450% compared to the current actual capacity. This will significantly bolster the segment’s production capacity, reaching nearly 165 million eggs annually.

The relevant financial impact is expected to appear in H1 2025, it added.