Naqi Water leases land from MODON to set up bottled water factory in Jazan

One of Naqi Water production lines

Naqi Water Co. signed on May 22 a contract with the Saudi Authority for Industrial Cities and Technology Zones (MODON) to lease a land plot in Jazan Industrial City to establish a bottled drinking water factory.

In a statement to Tadawul, the company said the 15,150-square-meter land was secured under a 20-year lease. The total contract value for the agreed period is SAR 302,980 (VAT exclusive), totaling SAR 15,150 annually excluding VAT.

Signing this contract aligns with Naqi Water’s investment strategy, being one of its strategic projects aimed at achieving growth through expansion and proliferation in its production sites.

This will enable efficient supply chains and enhance flexibility in reaching the company's customers, the statement said.

The company expects the financial impact of this contract to begin appearing in the second half of 2025.

Naqi Water will announce developments related to the construction and operation of the new factory in Jazan and the associated financial impact in due course.

There are no related parties to the contract, the statement added.