Jazadco secures $5.6mln to boost working capital

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The funding will be used to support the working capital of a shrimp farm

Staff Writer, Mubasher

December 29, 2023

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Riyadh – Jazan Energy and Development Company (Jazadco) signed a SAR 21 million loan agreement with the Agricultural Development Fund on 5 December 2023 to finance the working capital.

The funding will be used to support the working capital of a shrimp farm.

The company noted that the loan has a two-year term and is secured by the shrimp farm’s assets, which were mortgaged to the Agricultural Development Fund.

In the first nine months (9M) of 2023, Jazadco's net profits after Zakat and tax reached SAR 18.64 million.

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