JAZADCO renews 2 lease contracts for shrimp farms for 30 yrs

Logo of Jazan Development and Investment Co. (JAZADCO)

Jazan Development and Investment Co. (JAZADCO) said it received, on July 1, the final signed copies of the renewal agreements for the two lease contracts related to the lands on which the company’s shrimp farms are established, located in Jazan Region, with the Ministry of Environment, Water and Agriculture.

In a statement to Tadawul, the company explained that the total area of the lands reaches 8,000 dunums (8 million square meters).

According to the company, the renewal term is 30 years, at the same previous rental rate of SAR 1 per dunum annually. The renewal will commence from the expiry date of the previous two contracts on Dhul-Hijjah 16, 1438AH and Muharram 2, 1447AH.

JAZADCO also indicated that this renewal contributes to stabilizing the project’s operating costs and ensuring the continuity of benefiting from the company’s existing operational sites over the long term. It also supports the company’s future expansion plans in the aquaculture sector.