GACO files lawsuit against Agriculture Ministry to claim remaining revived land

Logo of Al Gassim Investment Holding Co. (GACO)

Al Gassim Investment Holding Co. (GACO) announced the filing of a lawsuit against the Ministry of Environment, Water, and Agriculture at the Administrative Court in Riyadh on June 27, 2024, to claim the remaining revived land.

The company stated on Tadawul that it had previously received a notification from the dispute resolution committee on fallow lands regarding its grievance against the Ministry’s branch. The grievance involved a request to the Royal Court for ownership of the remaining cultivated land area. The decision rejected the company's request to own the entire area. The company has the right to appeal to the Board of Grievances within 60 days from the decision notification.

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Therefore, the company filed an administrative lawsuit against the Ministry of Environment, Water, and Agriculture in Riyadh region to annul the decision of the Committee.

The company mentioned it has engaged an external lawyer to provide legal advice and represent the company in the lawsuit.

The expected financial impact, including the claimed amount and any other fees or burdens, will be announced later. Additionally, any substantial legal, regulatory, or operational consequences from the lawsuit, along with their impact on the company's financial, legal, or operational status, will be disclosed.

Last May, GACO announced receiving a notification from the dispute resolution committee on fallow lands, dismissing the company's grievance against the Ministry of Environment, Water and Agriculture regarding its appeal for full ownership of the revived area, according to Argaam’s data.