Naqi Water signs EUR 114,600 machinery contract addendum

Naqi Water Co. signed an addendum to its machinery procurement contract on June 25, increasing the total value by EUR 114,600, the company said in a filing.

The original contract, announced earlier this year, covered the purchase, supply, and installation of machinery at the company's production facilities. The addendum modifies the scope or pricing of that agreement, though Naqi Water did not disclose the revised total contract amount.

The adjustment is small relative to the company's capital expenditure plans. Naqi Water has been investing in production capacity to meet growing demand for bottled water in Saudi Arabia. The company reported revenue of SAR 194 million in 2024, with net income of SAR 30 million.

The addendum suggests the machinery project is proceeding, with cost adjustments likely tied to changes in equipment specifications or supplier pricing. Investors tracking Naqi Water's expansion should note that the original contract was part of a broader capacity upgrade aimed at increasing output from its existing plants.

The filing did not specify a timeline for installation or when the new machinery would become operational. Naqi Water's stock trades on the Saudi Exchange under ticker 2282. The shares have been flat over the past month, with the company's market capitalization at roughly SAR 1.2 billion.

The addendum was signed on June 25 and filed with the exchange the same day.