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China’s Guolian, Saudi fund terminate $560m MoU citing lack of progress

Guolian announced it had mutually agreed with the Saudi Public Investment Fund to terminate an agreement signed last June regarding a potential $560m investment

By Lewis Hu | March 21, 2024 09:18 GMT
Zhanjiang Guolian Aquatic Products' processing factory in Zhanjiang county, Guangdong province, opened in summer 2019. Source: Zhanjiang Guolian
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China's largest shrimp processor, Zhanjiang Guolian Aquatic Products, has canceled a memorandum of understanding (MoU) with Saudi Arabia's sovereign wealth fund after failing to reach a formal agreement, the company said on Wednesday (March 20) [...]

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