Wafrah signs MoU with Jordanian firm to establish frozen French fries plant

Logo of Wafrah for Industry and Development Co.

Wafrah for Industry and Development Co. signed on Aug. 28 a memorandum of understanding (MoU) with Jordan’s Al-Daman for Investment Co.

The company said in a statement to Tadawul that the MoU aims to outline the cooperation framework between the two parties to establish a frozen French fries production plant in Jordan.

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A specialized party is assigned to prepare financial, technical, and market feasibility studies for the project. In light of the study conclusion, the necessary refrigerated warehouses are established, operating and energy costs are determined within the framework of cost sharing, and a timetable for implementation is drawn up.

The project aims to benefit from the extensive technical experience of Wafrah in manufacturing frozen potatoes and the agricultural capabilities of Al-Daman.

Al-Daman is a private company owned by Jordan’s Social Security Investment Fund (SSIF) and has a healthy financial position.

In case of the project’s completion, it will be the first plant of its kind in Jordan, as it is one of the largest markets consuming frozen potato products. Thus, it opens the way to explore important markets in the region.

Al-Daman will supply exclusive quantities of industrial potatoes to operate Wafrah plant in Riyadh.

Wafrah expected the final agreement to support its activities in manufacturing and marketing potatoes, an area in which Wafrah gained leadership.

The MoU is a non-binding agreement that outlines the general framework between the two parties, with further updates and key developments to be announced in due course.