“Al-Leef”: Reducing a contract for mangrove cultivation with the “Red Sea” to one million trees
Al-Leaf International Environmental Services Company announced that the Red Sea International Company reduced the value of the contract for the project to plant two million mangrove trees by more than 40%.
The company had announced on its website "Saudi Arabia trading" On April 21, a project was awarded to the Red Sea International Company to plant two million mangrove trees in the Red Sea region, with a value exceeding 45% of last year’s revenues.
The company said: The contract stipulated the planting of two million mangrove trees, while it was reduced to include the planting of only one million trees.
It explained that due to the decrease in the value of the contract by more than 40%, the company will not recognize all the revenues as previously announced.
The financial impact will be felt in both halves of 2026, and Al-Leaf International Environmental Services Company will disclose any relevant developments in due course.
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