National Agricultural Development Co. (NADEC) signed today, Nov. 4, a memorandum of understanding (MoU) with Pure Harvest Smart Farms to build and operate high-tech hydroponic climate-controlled greenhouses spanning 60,000 square meters (sqm).

 

The duration of the MoU is 150 days from the signing date, the company said in a bourse filing.

 

The financial impact will be announced upon signing the final agreement.

 

NADEC’s board of directors earlier directed the company to study the expansion in some food activities and to ensure its continued contribution to achieve food security by providing more food products.

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