“Nama Chemicals” receives a seizure and execution notice on the “Jana” loan
Nama Chemicals Company announced the handover of Jubail Chemical Industries Company "Janna" One of the subsidiary companies received a seizure and execution notice from the Administrative Enforcement Court, regarding the implementation request received on December 25 last, related to a loan provided by the Saudi Industrial Development Fund in an amount estimated at approximately 139.87 million riyals.
The company said in a statement on the website "Saudi Arabia trading": It contacted the Industrial Development Fund, last December 25, to request a grace period for repayment, while the Fund agreed to grant the company a grace period until the end of this month of February.
The company explained that it had received an official notification from the Industrial Development Fund stating the initial approval to reschedule the loan, and negotiations are still continuing with the Fund in this regard.
The company stated that it is following up the issue continuously, and is working to take the necessary measures to address the relevant financial obligations, within Its plans to manage its financial obligations and maintain the continuity of its operational business.
The company had received an implementation order from the Execution Court on December 24 last, related to a loan of 276 million riyals from the Industrial Development Fund, and it had also received an implementation order from the court regarding a loan estimated at approximately 139.87 million riyals.
The company then contacted the Industrial Development Fund on December 25 to request a grace period for payment, and the Fund received its approval for a deadline until the end of February. Current.
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