TADCO receives SAR 10 mln loan from ADF

03/05/2020 Argaam

 

Tabuk Agricultural Development Co. (TADCO) received, on April 30, a SAR 10 million worth loan from the Agricultural Development Fund of Saudi Arabia (ADF), according to a bourse statement.

 

The 2-year facility is guaranteed by a promissory note and real estate mortgages, and aims to finance the company’s working capital.

 

The company noted that the funding is projected to reflect positively on its operations and agriculture program, adding that no related parties are involved in the deal.

 

Argaam previously reported that TADCO inked, on April 11, a SAR 10 million worth loan agreement with ADF.

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