Riyadh-Mubasher: Saudia Dairy and Foodstuff Co. (Sadafco) signed a Memorandum of Understanding (MoU) with Saudi Factory for Electrical Appliances Company (SELECT) for acquiring the lease rights of land and purchase of building in Jeddah first industrial city for SAR 16.5 million.
The MoU was signed on 27 January and will be effective for 125 days, according to a bourse filing on Thursday.
The statement added that the transaction is part of SADAFCO strategy to strengthen its existing manufacturing, logistics and warehousing facilities.
