Tanmiah Food subsidiary secures SAR 150 mln ST facility from ADF

29/06/2022 Argaam
Logo ofTanmiah Food Co.

Logo of Tanmiah Food Co.

Tanmiah Food Co. announced that its wholly owned subsidiary, Agriculture Development Co. (ADC), obtained today, June 29, a short-term financing facility worth SAR 150 million from the Agricultural Development Fund (ADF), according to a bourse statement.

 

The 12-month facility will be used to fund importing of grains, the company added.

 

The facility is guaranteed a promissory note and assignment of revenue contracts.

 

There are no related parties, Tanmiah noted.

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