Al-Jouf Agricultural signs SAR 81.9M loan deal with ADF

The financing will support Al-Jouf’s plan to expand its potato finger factory

Al-Jouf Agricultural Development Co. signed a loan agreement worth SAR 81.9 million with the Agricultural Development Fund (ADF).

In a statement to Tadawul, the company said it obtained the financing on Oct. 9, noting that the loan will be repaid in 10 annual installments after a grace period, starting on Oct. 8, 2028, and ending on Oct. 8, 2037, according to the agreed repayment schedule.

Al-Jouf Agricultural explained that the loan is secured by mortgaging part of its land and assets in the potato finger factory, adding that the agreement aims to finance the factory’s expansion project.

There are no related parties involved in the transaction, it noted.