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Al Asmak to obtain SAR 43m loan from SIDF

Al Asmak to obtain SAR 43m loan from SIDF
(Photo Credit: Arabianeye-Reuters)
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Riyadh – Mubasher: Saudi Fisheries Co (Al Asmak) signed an agreement with the Saudi Industrial Development Fund (SIDF) to receive a loan worth SAR 42.5 million.

The loan’s maturity will last from 23 November 2018 to 2 April 2026, with a target to finance the completion of the company’s plant for fish and shrimp feedstock production, according to a bourse filing.

The finance is a fixed assets mortgage and will be repaid over 16 unequal biannual instalments. Any developments will be announced in due course.