Almunajem signs MoU with NIDC to set up food plant in Jeddah

15/05/2024 Argaam
Logo ofAlmunajem Foods Co.

Logo of Almunajem Foods Co.

Almunajem Foods Co. signed a memorandum of understanding (MoU) with the National Industrial Development Center (NIDC) to cooperate on establishing a food plant in Jeddah, according to a statement to Tadawul today, May 15.

 

The MoU, valid until May 13, 2026, is also aimed at strengthening the strategic partnership with NIDC and related entities, in addition to exploring the industrial opportunities in the food sector.

 

For more news and details on the projects

 

Almunajem noted that there are no related parties to the deal.

 

The company's board of directors approved, in April, the establishment of a new food plant worth SAR 157 million, with an annual production capacity of 35,000 tons of some poultry, red meat, seafood and dairy products, according to data available to Argaam.

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