16 Hrs
Source:
الاقتصادية
Water firm invests 95 million riyals
The Saudi company "Miyahana" has acquired full shares of "Shas" Water Services for 95 million Riyals, with the possibility of increasing the amount to 102.7 million Riyals if certain financial targets are achieved by 2025. The transaction aims to support growth strategy in the water distribution sector in Riyadh and to enhance its position in water services for the industrial sector. It is financed through internal resources and financing facilities. In the first quarter of 2026, the company recorded a net profit of 2.6 million Riyals, a decrease of 61.5% compared to the previous year, mainly due to a 33% drop in revenues to 118 million Riyals.
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