NADEC pens product purchase agreement with Pure Harvest

Logo of National Agricultural Development Co. (NADEC) and Pure Harvest Smart Farms Co.

National Agricultural Development Co. (NADEC) inked a product purchase agreement with Pure Harvest Smart Farms Co., a limited liability Co. (LLC), according to a statement to Tadawul.

Under the agreement, NADEC will buy Pure Harvest products -- fruit and vegetables -- and sell them under its trademark using its marketing and selling capabilities.

The relevant financial impact will be announced later, and updates will be duly revealed, the statement noted.

In November 2020, NADEC signed a memorandum of understanding (MoU) with Pure Harvest to build and operate high-tech hydroponic climate-controlled greenhouses spanning 60,000 square meters (sqm), Argaam reported.