ARDCO not to renew MoU with SALIC

Logo of Riyadh Development Co. (ARDCO)

Riyadh Development Co. (ARDCO) decided not to renew the memorandum of understanding (MoU) signed with Saudi Agricultural and Livestock Investment Co. (SALIC), as no final binding agreement was reached.

In a statement to Tadawul, ARDCO clarified that it will continue exploring opportunities of developing fresh product markets to support its strategic objectives, with the possibility of exploring future cooperation opportunities when the appropriate conditions are favorable.

According to data available on Argaam, ARDCO signed a strategic agreement with SALIC to enhance food security in the Kingdom by developing value chains and services, supporting the agricultural sector, facilitating farmers’ access to high-quality agricultural inputs, and diversifying sales channels to enable access to multiple markets.