SABIC AN, SALIC extend MoU to explore business opportunities for 2 years

Logo of SABIC Agri-Nutrients Co.

SABIC Agri-Nutrients Co. extended the Memorandum of Understanding (MoU) with Saudi Agricultural and Livestock Investment Co. (SALIC) for two years from the expiration date of the first MoU.

SABIC Agri-Nutrients added in a statement on Tadawul that the MoU is aimed at exploring mutual global trade and creative opportunities to achieve food security and face aggregating environmental challenges.

The delay was because the work is still ongoing, the company said, noting that there is no material financial impact of extending the MoU.

Accordingly, there is no impact on the company’s financial statements.