Batic extends MoU with Olaya parking lots consortium for another 3 months

Logo of Batic Investments and Logistics Co.

Batic Investment and Logistics Co. extended its memorandum of understanding (MoU) with Al- Marshad Group Holding and Smart Cities Solutions Co. for three additional months, ending April 29, according to a bourse statement.

This is the fourth time the company has extended the MoU. It was first extended on May 2, 2021, for three months until July 29, 2021, followed by a second extension on July 29, 2021, for another three months ending Oct. 29, 2021. It was extended for the third time on Oct. 31, 2021, for another three months until Jan. 29, 2022.

Batic announced, in November 2020, a MoU with both companies to bid, as a consortium, to construct and operate the car parking project in Olaya, Argaam earlier reported.