TADCO receives part of operating loan from ADF

26/12/2023 Argaam
Logo ofTabuk Agricultural Development Co. (TADCO)

Logo of Tabuk Agricultural Development Co. (TADCO) 

Tabuk Agricultural Development Co. (TADCO) received on Dec. 27 a portion of the operating loan, amounting to SAR 9.94 million, from the Agricultural Development Fund (ADF), according to a statement to Tadawul.

 

This sum constitutes a segment of the total financing, which is SAR 50.5 million.

 

The financing period is two years, with the company's land mortgaged as a guarantee, TADCO stated.

 

There are no related parties involved, and any significant developments in this regard will be announced later, the statement added.

 

In November, TADCO signed an agreement with the ADF to obtain an operating loan worth SAR 50.5 million, in accordance with the fund’s lending laws and regulations, according to data available on Argaam.

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