Arriyadh Development signs MoU Environment Ministry for model wholesale market

Logo of Arriyadh Development Co.

Arriyadh Development Co. signed a one-year memorandum of understanding (MoU) with the Ministry of Environment, Water and Agriculture to determine the joint framework to develop the management and operation of the construction of a model wholesale vegetable and fruit market in Riyadh.

The MoU includes studying the possibility of establishing a partnership between the two parties to implement similar future projects for the public interest markets, discussing their terms, provisions and scope.

There is currently no financial impact of the MoU, the company said in a statement to Tadawul.

The MoU is based on Cabinet Decision No. (712) dated 09/11/1441 AH, regarding the transfer of several competencies from the Ministry of Municipal and Rural Affairs (formerly) to the Ministry of Environment, Water and Agriculture, representing the opening of new horizons in investing in public interest markets at the level of the Kingdom.

The move is in line with Vision 2030 to achieve sustainability in developing the food production system.