MRNA forms strategic partnership with HungerStation

13/07/2023 Argaam

Morabaha Marina to debut on Tadawul today

Logo of Morabaha Marina Financing Co. (MRNA)

Morabaha Marina Financing Co. (MRNA) announced a strategic partnership with HungerStation Ltd to market its financing products at a total value of SAR 250,000.

 

The new project will be financed by the company’s capital. The project construction began on July 7, MRNA said in a statement to Tadawul.

 

The company earlier obtained the approval of the Saudi Central Bank (SAMA) on Jan. 10.

 

MRNA expects to complete this project and start commercial production on Oct. 12. Further, a 90-day pilot production is scheduled to commence today, July 13.

 

The company expects a positive impact on its financial statements in the third and fourth quarters of 2023.   

 

Any related updates will be revealed in due course, MRNA added.

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