Mazen Badawood CEO, Al-Jouf Agricultural Development Co. (JADCO)
Mazen Badawood, Chief Executive Officer (CEO) at Al-Jouf Agricultural Development Co. (JADCO), said the delayed establishment of the French fries factor is primarily attributed to restudying technical aspects amid new market conditions and the used technology.
The COVID-19 pandemic also had a little impact, delaying the arrival of technical experts at the Kingdom for almost seven months. The company is still committed to begin trial operations at the project in the third or fourth quarter of 2023, Badawood told Al-Ekhbariya TV.
The financial impact of the new French fries factory will be reflected on the company after the commencement of commercial operations expected by the end of 2023, Badawood added.
On Feb. 16, JADCO signed a loan agreement with the Agricultural Development Fund (ADF) for SAR 186 million, Argaam reported.
In December 2020, JADCO board of directors approved the establishment of SAR 70 million French fries factory.
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