Riyadh – Mubasher: Al-Ra’i National Livestock Company, a subsidiary of National Agricultural Development Company (Nadec) inked a SAR 1.10 billion financing agreement with the Agricultural Development Fund (ADF).

The company secured the loan to establish an intensive livestock farming project for breeding and meat production, according to a bourse disclosure.

The financing will be disbursed in phases based on the project implementation progress and upon submission of the required documents. It holds a tenor of 15 years, including a three-year grace period.

Meanwhile, the project aligns with Nadec’s strategy to boost food security under Saudi Vision 2030.        

The Tadawul-listed company’s net profits hiked by 156.45% to SAR 774.63 million in 2024 from SAR 302.06 million in 2023.