JAZADCO bags SAR 21M loan from ADF
05/12/2023
Argaam
Logo of Jazan Energy and Development Co. (JAZADCO)
Jazan Energy and Development Co. (JAZADCO) signed a SAR 21 million loan agreement today, Dec. 5, with the Agricultural Development Fund (ADF) to finance working capital.
In a statement to Tadawul, the company indicated that the loan, having a tenor of two years, will go for financing its shrimp farm’s working capital.
It added that the loan is guaranteed by the shrimp farm assets, mortgaged to the fund. There are no related parties to the deal.
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