DXN Holdings Bhd said its subsidiary, Dexin Morocco SA, has signed a memorandum of understanding (MoU) with the Moroccan government to collaborate on constructing a new facility in Meknes for producing Spirulina and Ganoderma products.

The project, valued at approximately 161 million dirhams, aims to create around 250 jobs by 2028.

Under the MoU, Dexin Morocco will develop and build the industrial unit on an 80,765 square meter site in Agropolis Industrial Park.

The Moroccan government, through the Ministry of Industry and Trade, the Ministry of Investment, Convergence and Evaluation of Public Policies, and the Moroccan Investment and Export Development Agency (AMDIE), has agreed to assist Dexin Morocco in securing investment subsidies and other applicable incentives.

The MoU is valid for 12 months from the date of signing, with an option for a three-month extension upon mutual agreement.

At the close of trading today, DXN’s shares were unmoved at 62.5 sen, with a market capitalization of RM3.1 billion. –TMR