Al Jouf Agricultural signs SAR 160M facilities agreement with BSF

Al Jouf Agricultural Development Co. signed a bank facilities agreement with Banque Saudi Fransi (BSF) at a total value of SAR 160 million.

The facilities, which are guaranteed by a promissory note, have a term of one year until Dec. 31, 2025, the company said in a statement to Tadawul.

The company will use these facilities to support working capital, refinance letters of credit and issue letters of guarantee to support the company's expansion plans and support and financing the French fries factory.

There are no related parties to the agreement.