THE NATIONAL AGRICULTURAL DEVELOPMENT COMPANY 1443/03/29 Thu Nov 4, 2021 08:26:25
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| Element List | Explanation |
| Introduction |
With reference to the National Agricultural Development Company "NADEC" announcement on Tadawul website dated 4 July 2021, regarding an update on the announcement of signing the Memorandum of Understanding (MOU) with Pure Harvest Smart Farms to build and operate an approximately six hectares (60,000 square meters) high-tech hydroponic climate-controlled greenhouses within NADEC City in Haradh and extending the Memorandum of Understanding (MOU) for an additional Four months to study aspects of joint cooperation between the two parties and reach the final agreement to build and operate the project.
NADEC hereby announces signing the following agreements with Pure Harvest Smart Farms: (1) First Agreement (Lease Agreement): A long-term lease agreement in the Nadec project in Haradh for a period of 20 years, starting from the date of agreement and able to extension related to the construction, development, and operation of the tenant of high-tech smart agricultural greenhouses in the city of Nadec with an area of not less than 40 hectares in order to accommodate future expansions, including Nadec's provision of supplies Groundwater to the lessee for the purpose of the project. 2) The Second Agreement (Utility Service Agreement "Energy, Electricity and Ancillaries") Where NADEC will provide and sell utility services and energy outputs from the date of operation until the end of the lease agreement . (3) The third agreement (a framework agreement regarding cooperation in the provision of common services) Where the two parties agreed to cooperate and partnership regarding NADEC providing services for housing, transportation, emergency services and catering to facilitate the work of the project from the date of operation until the end of the agreement NADEC and Pure Harvest Smart Farms will continue negotiations with regards s to potential further strategic cooperation between the two companies. Financial impact and any developments in this regard will be announced once completed. |
| Previous Announcement | National Agricultural Development Co. "NADEC" Announces an update on the announcement of signing an MoU with Pure Harvest Smart Farms to collaborate in building and operating a high-tech hydroponic climate-controlled greenhouse |
| Date of Previous Announcement on Tadawul's Website | 2021-07-04 Corresponding to 1442-11-24 |
| Percentage of fulfilled achievement | N/A |
| Event's Expected Completion Date | N/A |
| Reasons for Exceeding the Announced End Date | N/A |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | N/A |
The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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NADEC - National Agriculture Development Co. SJSC published this content on 04 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 November 2021 05:41:08 UTC.
