Riyadh — Mubasher: Al Jouf Agricultural Development Company has signed a loan agreement valued at SAR 150 million with the Agricultural Development Fund.
The financing is specifically designated to support the company’s internal transition costs as part of the national liquid fuel displacement program.
The credit facility is secured by promissory notes. Under the agreed repayment schedule, the loan will be settled in five annual installments following a grace period.
Repayment is scheduled to commence on 7 September 2027 and will conclude on 7 September 2031.
This funding is linked to the company’s previous announcement on 29 January 2026, regarding its project to connect electricity to its facilities in the Busaita center within the Al Jouf region.
The initiative aims to shift operations away from liquid fuel consumption. Al Jouf Agricultural confirmed there are no related parties involved in this transaction.
Earlier this month, the company submitted a formal application to the Capital Market Authority (CMA) to increase its share capital from SAR 300 million to SAR 345 million.
