Saudi Fisheries MoU with Aqua Bridge Farms ends without agreement

Logo of Saudi Fisheries Co. (Alasmak)

Saudi Fisheries Co. (Alasmak) said its memorandum of understanding (MoU) with Aqua Bridge Farms Co. (ABFC) expired without reaching a mutual agreement between the two parties.

Neither party bears any obligations following the termination of the MoU, the company said in a statement to Tadawul today, Oct. 27.

According to data available with Argaam, Saudi Fisheries signed a non-binding MoU with ABFC last January, aiming to establish a general framework for cooperation in the aquaculture sector, define the scope of work, and explore potential partnership opportunities.