Sadr secures SAR 74.6M credit facilities from ADF

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Sadr Logistics Services Co. sealed a SAR 74.6 million loan agreement with the Agricultural Development Fund (ADF), as per the funds lending regulations, according to a Tadawul filing today, Aug. 14.The loan will finance the establishment of the Logistics Services Complex Project (Sadr Park) in Riyadhs Industrial Gate City, supervised by the Saudi Authority for Industrial Cities and Technology Zones (MODON). The project aims to create an integrated logistics area with advanced storage solutions for refrigerated, frozen, and dry goods, supporting Sadrs expansion strategy for logistics services.The 10-year funding is guaranteed by a mortgage covering the projects assets (construction and equipment) and a mortgage on the projects land.

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