Naqi Water signs SAR 12.3M contract for poultry farm project

Logo of Naqi Water Co.

Naqi Water Co. signed today, Dec. 22, a SAR 12.31 million contract with Belad Al-Sham Cont. Co. to construct a new poultry farm as part of its poultry segment expansion initiatives.

In a statement to Tadawul, the company said the project would be financed internally through its own resources, without the need for external funding.

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The contract includes infrastructure preparation, structural works, and the construction of poultry barns, adhering to top quality standards and incorporating the latest technologies in the table egg production segment.

The project was designed and planned to feature both rearing and production barns, aiming to boost the poultry segment’s capacity by 450% compared to its current operational capacity.

This expansion is expected to increase production to approximately 165 million eggs annually, in line with the company’s broader poultry segment growth strategy.

The project will be executed in two phases, enabling the first phase to become operational before the overall project is completed. This phased approach is expected to enhance operational efficiency during the first year.

Construction is scheduled to begin on Dec. 22, with an anticipated completion date of Sept. 20, 2025. Commercial production is expected to commence by Nov. 1, 2025.

The financial impact of this project is anticipated to appear in the company’s financial statements in Q4 2025.

There are no related parties to the deal, the company added.

This initiative is part of Naqi’s ongoing efforts to develop its projects, expand operations, and increase production capacity, according to the statement.