Riyadh – Mubasher: Tabuk Agriculture Development announced signing a memorandum of understanding (MoU) with Al Othman Group for Agricultural Production and Industry to examine the possibility of entering as partner and strategic ally in the project for producing crops and animal feed in Sudan.

No deal will be signed unless the necessary electricity for the project has been provided, Tabuk stated in a filing to the Saudi Stock Exchange (Tadawul) on Thursday, adding that the one-year-long MoU is effective 9 September and has no third parties.

This project is among several related to increasing Tabuk’s capital, a decision approved in shareholder meeting earlier in January.