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Naqi Water Co. Announces the Latest Material Developments Regarding Its Signing of an Industrial Land Lease Contract with the Saudi Authority for Industrial Cities and Technology Zones (MODON) in the Jazan Region.
| Element List | Explanation |
|---|---|
| Previous Announcement | Naqi Water Co. Announces Contract Sign Off with Saudi Authority for Industrial Cities and Technology Zones (MODON). |
| Date of Previous Announcement on Saudi Exchange’s Website | 2024-05-23 Corresponding to 1445-11-15 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | Naqi Water Co. Announces the Latest Material Developments Regarding Its Industrial Land Lease Contract with the Saudi Authority for Industrial Cities and Technology Zones (MODON) in the Industrial City of the Jazan Region. The company would like to clarify that, following a review of its expansion plans and operational strategies, it has decided to relocate its new plant to the Industrial City in the Tabuk Region instead of Jazan. This decision aligns with the company’s strategic approach to enhancing operational efficiency, achieving integration within supply and distribution chains, and expanding its geographical presence. The company reaffirms its commitment to executing its projects in accordance with the highest industrial and operational standards, contributing to added value for shareholders and strengthening its ability to meet the expanding demand from its customers. Furthermore, the company reiterates that all its expansion decisions are based on thorough studies aimed at optimizing operational efficiency and maximizing return on investment while continuing to implement sustainable growth strategies and reinforcing its position in the bottled water industry. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | The contract holds no additional cost, and the company will announce the financial impact of this contract upon completing all regulatory and operational procedures. |
| Additional Information | The annual contract value is SAR (27,317), excluding VAT. The lease term for the rented land is (20) years, with an area of (27,317) m². The total contract value for the agreed period is SAR (546,343), excluding VAT. The financial impact of this contract is expected to be realized in the second half of 2026. The company will also announce further developments regarding the establishment and operation of the new plant in the Tabuk region, as well as the associated financial impact, at a later time, based on new updates. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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