Naqi Water Company announces the signing of a contract to acquire a lease for an industrial land located in the second industrial city of Riyadh that is owned by the Saudi Authority for Industrial Cities and Technology Zones (MODON).

Naqi Water Company announces the signing of a contract to acquire a lease for an industrial land located in the second industrial city of Riyadh that is owned by the Saudi Authority for Industrial Cities and Technology Zones (MODON).

28 December 2023 03:41 PM

NAQI

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Explanation

Announcement Detail

Naqi Water Company announces the signing of a contract to acquire a lease for an industrial land located in the second industrial city of Riyadh. This land is owned by the Saudi Authority for Industrial Cities and Technology Zones (MODON). The acquisition contract, in collaboration with The Saudi Pump Spare Parts Company, entails the transfer of the lease to Naqi Water Company. Through this acquisition contract, Naqi Water Company will gain ownership of the lease, as well as the assets and constructions currently owned by the Saudi Pump Spare Parts Company and situated on the land. The financing for this transaction will be internally managed by Naqi Water Company, eliminating the need for any external funding. Related Parties: No related parties involved in this transaction.

Naqi Water Company announces the signing of a contract to acquire a lease for an industrial land located in the second industrial city of Riyadh that is owned by the Saudi Authority for Industrial Cities and Technology Zones (MODON).