Jazan Energy and Development Company (JAZADCO) announces signing a loan agreement with Agricultural Development Fund to finance the working capital and development of the shrimp farm

22/03/2021 Tadawul
ELEMENT LIST EXPLANATION
Introduction Jazan Energy and Development Company (JAZADCO) announces signing a loan agreement with Agricultural Development Fund to finance the working capital and development of its aquaculture sector to increase the production capacity. These developments aligns with the company's strategy to expand its agricultural sector as well as with the national targets to increase fish consumption per capita to reach the global average.
Date of obtaining the funding 2021-03-21 Corresponding to 1442-08-08
Financing entity Agricultural Development Fund
Financing amount. 20,902,781 Riyals
Financing duration. Two years for the working capital loan and 10 years for the capital expenditure loan
Guarantees offered for the financing - Mortgage the assets of the shrimp farm

 

- Promissory note for the value of the loan plus administrative expenses
Financing objective Working capital and capital expenditure for Shrimp Farm
Related Parties No

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