Riyadh – Mubasher: National Agricultural Development Company (Nadec) has extended its memorandum of understanding (MoU) with the UAE-based Pure Harvest Smart Farms for additional four months, according to a bourse filing on Sunday.
Nadec and Pure Harvest signed the deal to build and operate nearly 60,000 square metres of high-tech hydroponic climate-controlled greenhouses in Nadec City in Haradh.
Both parties will reach a final agreement to build and operate the project following the contract extension.
It is worth noting that Nadec turned profitable in 2020 at SAR 35.65 million, against net losses of SAR 7.3 million in 2019.
