TADCO receives ownership of rehabilitated agriculture lands

11/05/2020 Argaam

 

Tabuk Agricultural Development Co. (TADCO) received, on May 10, the decision from the Ministry of Environment, Water and Agriculture regarding the ownership of agriculture land in Plot 1 and Plot 2.

 

The company said in a statement to Tadawul that the decision followed the company’s ability to revive deserted land for agriculture, adding that the law also stipulated the company to be eligible to own land plots it can turn into farmlands.

 

Plot 1 is located 53 kilometers north of Tabuk, west of railway, and spans an area of 212.48 million square meters. Plot 2 is located east of Tabuk railway station and spans 2.26 million square meters.

 

The decision is pending royal authority approval, the company said, noting that any further financial impact of the decision will be revealed in due course.

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