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Leaf Global's Red Sea Mangroves Contract Value Slashed After Scope Reduction

MT Newswires·12/31/2025 01:47:33
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01:47 AM EST, 12/31/2025 (MT Newswires) -- The value of Leaf Global Environmental Services' (SASE:9597) services contract from Red Sea Development Co was cut by 40% after the latter decided to halve its mangroves plantation target to 1 million in the Red Sea area. The Tadawul-listed environmental sciences, engineering and technology company said Wednesday that no cost changes are expected, but that the reduction is expected to have a financial impact in 2026.