Leha Company for Agricultural Production signed a non-binding memorandum of understanding with “NADEC

Leha Company for Agricultural Production signed a non-binding memorandum of understanding with the National Agricultural Development Company “NADEC“, to produce and propagate seed potatoes in the Kingdom of Saudi Arabia.

The memorandum is valid starting from the date of October 1, 2022 and ending on April 30, 2023, and Leha Agricultural Production Company is distinguished by its specialization in the cultivation and marketing of potatoes, and it also provides storage and cooling solutions for the supply chains of agricultural products in the Kingdom of Saudi Arabia.

The memorandum defined a general framework for joint cooperation between the two parties, which includes the two parties’ desire to study joint investment in the field of potato seed production and propagation, laying the foundations and conditions governing the relationship between the two parties regarding this investment, and the two parties’ agreement to unify their investment efforts and participation between them to serve their common interests.

The two parties agreed to appoint independent financial, legal and technical advisors if they wish or the official authorities require it, and the full financial value will be determined and announced after the completion of the due diligence work in legal, financial and commercial terms.