The Saudi Industrial Development Fund signed a 100-million-riyal financing agreement for the major water companies in Tabuk, to develop, move, and expand the national factory, to an area of around fifty thousand square meters. By this year, construction of production lines will start.
The Chairman of the Board, Mr. Fouad Mohammed Alghorayed, expressed his gratitude that the factory obtained the Fund’s approval in preparation for the actual start of the project as it is awaited by the region’s markets. Expansion of the establishment and transfer of the factory to a larger and high-tech site is urgent to meet market demand and raise energy efficiency in line with National Vision 2030.
He said in a press statement: This support is the third support from the Industrial Development Fund during the past twenty years of the factory’s life, as we specialize in the production and packaging of drinking water of different sizes over two decades in the city of Tabuk, and we have committed and continue to pursue good manufacturing practices to produce Safe and high quality bottled drinking water that proves our leadership in the field of bottled drinking water.
In conclusion, Al-Gharayed thanked the Saudi Industrial Development Fund board and management for its support of this great national project, which will be in its new location on the international road linking the Kingdom of Saudi Arabia and the sisterly country of Jordan, in embodying the leadership’s interest in developing the national industrial sector.