Al-Jouf Agricultural expects French fries factory completion in Q3 2023, cost rises to SAR 192 mln
05/08/2021
Argaam
Logo of Al-Jouf Agricultural Development Co.
Al-Jouf Agricultural Development Co. said today, Aug. 5, that construction at its French fries factory has not yet commenced.
In a statement to Tadawul, the company expected the project to be complete in the third quarter of 2023, attributing the project delay to communication with the contractors of similar projects in other countries.
Moreover, the project cost was changed from previous SAR 70 million to SAR 192 million, in light of the market needs, the statement added.
Last December, Al-Jouf Agricultural’s board of directors approved the establishment of a French fries factory at a total investment cost of SAR 70 million.
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