Nama Chemicals’ subsidiary JANA ordered to suspend SIDF loan enforcement

Logo of Nama Chemicals Co. headquarters

Nama Chemicals Co.’s subsidiary Jubail Chemical Industries Co. (JANA) received, today, April 20, a court order issued by the Administrative Enforcement Court mandating the temporary suspension of enforcement request, related to loan No. (1899) submitted by the Saudi Industrial Development Fund (SIDF), effective from the date of issuance of the order until May 31, 2026.

The company will announce any developments in this regard as soon as they arise, according to a Tadawul statement.

According to data available with Argaam, Nama Chemicals received, in November 2024, an official notice from SIDF regarding its commitment to the guarantee provided under the loan agreement for JANA.

Later, Nama Chemicals’ shareholders approved the non-binding offer submitted by FAAD Partners to acquire a 40% stake in JANA for SAR 200 million during the ordinary general meeting (OGM) held in March 2025, under the agreed terms and conditions.

The company received a notice in June 2025 from SIDF, granting in-principal approval for FAAD Partners to complete the acquisition of a 40% stake in JANA.

In February 2026, Nama Chemicals announced that its subsidiary JANA received an enforcement order from the Administrative Enforcement Court on Dec. 24, 2025, regarding loan No. (1899) worth SAR 276.04 million.