Riyadh – Mubasher: Al Jouf Agricultural Development Company has signed a loan agreement worth SAR 186 million with the Saudi Agricultural Development Fund (ADF).
The credit facility will be used to establish a French fries factory, according to a bourse filing on Thursday.
Al Jouf Agricultural obtained the 10-year funding on 16 February, with a payment schedule of 10 annual instalments starting from 7 February 2025 until 2 July 2034.
The Saudi listed company will offer part of its land and the fixed assets of the new French fries project as a guarantee for the loan.
