NADEC extends MoU with Pure Harvest to build 60,000 sqm hydroponic greenhouses

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National Agricultural Development Co. (NADEC) extended for additional three months the memorandum of understanding (MoU) signed last year with Pure Harvest Smart Farms to build and operate high-tech hydroponic climate-controlled greenhouses spanning 60,000 square meters (sqm).

The extension aims to allow the two companies to study aspects of the joint cooperation and reach a final agreement to build and operate the project, NADEC said in a statement to Tadawul today, April 4, 2021.

The financial impact will be announced upon the completion of the construction work and start of commercial operations of the project.

NADEC’s board of directors, in April 2020, directed the company to study the expansion in some food activities and to ensure its continued contribution to achieve food security by providing more food products, according to data available with Argaam.

In November 2020, the firm announced the signing of the MoU with Pure Harvest, with a duration of 150 days from the signing date.