Wafrah for Industry and Development Co. Announces an update on Agreement to extend the memorandum of understanding for an additional six months from the expiration date of the memorandum.
This is a notice from Wafra Company for Industry and Development regarding the agreement to extend the memorandum of understanding for an additional six months, signed initially with Al-Daman Company for Investment and Agricultural Industries - Jordan, to define the framework of cooperation between the two parties for the establishment of a frozen French fries plant in Jordan, distributing the main tasks and activities of the project between the two companies, and completing the required financial, technical, and market feasibility studies for the project, as well as defining the tasks for the main project and supporting projects such as the construction of cold storage facilities for raw materials and freezing units for finished products.
Previous Announcement
Agreement to extend the memorandum of understanding for an additional six months from the expiration date of the memorandum.
Date of Previous Announcement on Saudi Exchange’s Website
2025-03-02 Corresponding to 1446-09-02
Hyperlink to the Previous Announcement on the Saudi Exchange Website
The memorandum of understanding between the two parties has expired without the desire of Wafrah Co to implement the project or renew the memorandum of understanding due to the failure to reach evidence of the project's economic feasibility.
Reasons For The Delay on The Date of The Event Previously Announced
N/A
The costs associated with the event, and if they have changed or not with indication of the reasons.
None
Delay consequences on the Company’s financial results
None
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