A subsidiary of “Nadak” signs a financing agreement of 1.1 billion riyals

The National Agricultural Development Company (Nadak) announced the signing of the subsidiary (Al -Raa’a Al -Nashi Company, a limited liability company) yesterday, which is a 51% company owned by (Nadak) on a financing agreement from the Agricultural Development Fund.
The company said in a statement on the circulation of Saudi Arabia: The agreement to finance the establishment of a project concerned with intensive animal education (sheep and goats) and its multiplication and the production of meat with a roof above 1,106,188,176 riyals according to the implementation stages and submission of the project and submit the necessary documents for exchange.
She added that the financing period is 15 years with a 3 -year grace period.
The partners provided guarantees in proportion to their shares in the company, as (Nadk) has offended one of its lands in the Wadi Al -Dawasir region, in addition to providing companies guaranteeing the partners according to the formula approved by the Agricultural Development Fund.
She explained that the aim of the agreement: financing the purchase of assets and capital necessary for the intensive animal education project (sheep and goats) and the production of meat for the National Shepherd Company for livestock (one of the subsidiaries).