ASHARQIYAH Development Board Approves Establishment of Food Production Logistics Company

ASHARQIYAH Development Company announced on Wednesday to its shareholders that the Board of Directors has granted approval for the establishment of a wholly-owned limited liability company. This entity will serve as an investment vehicle for the company in the logistics sector, specifically focusing on food production. The company clarified that the financial impact will be disclosed upon the establishment of the new entity and commencement of its operations. As per the statement published on Tadawul, ASHARQIYAH Development Company aims to diversify its activities by acquiring companies and engaging in ventures with lucrative returns and rapid liquidity, all aimed at maximizing shareholder value.