Saudi ministry said to withdraw land from 3 agricultural firms

27/04/2015 Argaam
Saudi Arabia’s agricultural ministry will withdraw ten to 15 percent of uncultivated lands granted to National Agriculture Development Co. (NADEC), Qassim Agriculture Co. (QACO) and Tabuk Agriculture Development Co. (TADCO). 
 
The lands were granted to the three companies 40 years ago, Eid Al Ghadeer, council chairman of Saudi Chambers' agricultural committee told local Makkah newspaper. They originally had a 10-year window to cultivate them.
 
Al Ghadeer went on to describe land withdrawal as a normal procedure. He does not expect the companies to see any financial impact as a result of the measure.
 
Argaam reported back in February that the Saudi cabinet had approved several procedures to ratify land ownership for the three firms.
 
Agricultural development in the kingdom is overseen by the ministry of agriculture.

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