
NADEC's subsidiary signs financing agreement with ADF for up to SAR 1.1B
The financing amount will be disbursed in stages based on the project's progress and the submission of required documents.
According to a statement to Tadawul, the 15-years agreement was signed on March 23, with three years grace period.
The company clarified that the partners provided guarantees in proportion to their shares in the company, with Nadec offering one of its lands in Wadi Al-Dawasir as collateral, in addition to providing corporate guarantees from the partners in accordance with the approved format by the Agricultural Development Fund.
The agreement was signed under the sponsorship of the Minister of Environment, Water and Agriculture (MEWA) Abdulrahman AlFadley, the statement noted, adding that the project aims to enhance local red meat production by developing integrated facilities for breeding (sheep and goats), contributing to increased domestic production.
This project is part of NADEC's strategy to strengthen food security within the framework of Saudi Arabia's Vision 2030.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Leaders
2 hours ago
- Leaders
Saudi Arabia Showcases Investment Potential at INNOPROM 2025
At INNOPROM 2025, held in the Russian Federation, the Saudi Pavilion hosted a series of specialized workshops aimed at strengthening international industrial partnerships and promoting the Kingdom's dynamic investment environment. The events highlighted Saudi Arabia's competitive advantages across key sectors including industry, mining, and energy. The workshops also showcased the enablers and incentives available to investors, reinforcing the Kingdom's strategic position as a global economic hub. Industrial Growth, Incentives The Ministry of Industry and Mineral Resources led several workshops to introduce the industrial investment landscape in Saudi Arabia. One key session, 'Industrial Investments in the Kingdom of Saudi Arabia,' reviewed the evolution of the industrial sector, the goals of the National Industrial Strategy, and the focus areas for localization. The session emphasized the Kingdom's logistical strengths—such as its geographic position, 40+ industrial cities, 10 major ports, and a 5,000-kilometer rail network. Another workshop, 'The Standard Incentive Program for the Industrial Sector,' focused on priority sectors including aerospace, automotive, pharmaceuticals, and downstream chemicals. Additionally, the program offers up to 35% financial incentives, capped at SAR 50 million per project, to eligible investments. Financing, Support Services for Industrial Development Multiple institutions provided insights into Saudi Arabia's robust support systems. The Saudi Industrial Development Fund (SIDF) hosted a session on its financing and advisory services designed to support sustainable, high-quality industrial projects. Meanwhile, the Saudi Export-Import Bank (EXIM) introduced its export financing tools such as supply-chain finance, export credit, and guarantees—supporting the global competitiveness of non-oil Saudi products. The Economic Cities and Special Zones Authority presented the benefits of investing in special economic zones, while the National Industrial Development Center (NIDC) highlighted high-value opportunities in downstream chemicals, aiming to quadruple the sector's contribution to GDP under the National Industrial Strategy. Expanding Opportunities in Mining, Energy A major focus was also placed on mining and energy. The Ministry of Industry and Mineral Resources introduced the workshop 'The Kingdom: The World's Next Hub for Mineral Processing,' highlighting Saudi Arabia's $2.5 trillion in mineral reserves and its goal to boost the sector's GDP contribution to $64 billion by 2030. Moreover, the Ministry of Energy presented investment opportunities across the energy sector, while other entities such as the Premium Residency Center, ROSHN Group, and the Spirit of Saudi Arabia tourism program showcased incentives for skilled professionals, real estate development, and tourism respectively. INNOPROM Saudi Arabia's participation as a partner country at INNOPROM 2025 underscores its commitment to fostering global industrial cooperation and attracting strategic investments. By highlighting its advanced infrastructure, strategic location, and supportive ecosystem, the Kingdom aims to deepen ties with Russian and international investors, boost non-oil exports, and position itself as a leading industrial and investment destination. Related Topics: Investment Ministry to Forge Global Partnerships at 2025 INNOPROM Expo in Russia Saudi-Russian Industrial Dialogue Forum Highlights Promising Investment Opportunities Saudi Artist Malak Al-Johani Revives Grandmother's Memories Through Interactive Art Short link : Post Views: 21


Arab News
2 hours ago
- Arab News
Saudi Tourism Development Fund rolls out programs to boost startup growth
RIYADH: Tourism startups and entrepreneurs in Saudi Arabia stand to benefit from three newly launched support initiatives aimed at accelerating innovation, attracting investment, and strengthening the Kingdom's growing travel economy. The Tourism Development Fund has introduced the Grow Tourism Incubator, Tourism Hackathons and Bootcamps, and the Grow Tourism Accelerator — a suite of initiatives designed to empower early-stage ventures through TDF Grow, its non-financial enablement arm, according to a press release. Developing a robust tourism landscape is a key pillar of Saudi Arabia's Vision 2030 agenda, as the Kingdom works to diversify its economy and reduce its reliance on oil revenues. The National Tourism Strategy targets 150 million annual visitors by 2030, after surpassing the 100 million milestone ahead of schedule, with official data showing the Kingdom welcomed 116 million tourists in 2024 — exceeding its annual target for the second year in a row. Qusai bin Abdullah Al-Fakhri, CEO of TDF, said: 'We remain committed to empowering entrepreneurs to transform their ideas into promising, impactful projects. We strive to provide a comprehensive support ecosystem that addresses the needs of businesses at every stage, helping them overcome challenges and accelerate their growth.' He added: 'These three programs embody our dedication to practical enablement, offering guidance, support, and connections with key stakeholders, to build a sustainable tourism sector full of opportunity and aligned with the aspirations of Saudi Vision 2030.' The Grow Tourism Incubator Program, now in its first edition, will target early-stage tourism startups. Registration opened on June 24 and will remain open until July 17. The incubator offers a 10-month immersive environment, providing participants with access to shared workspaces, as well as legal, marketing, and logistical support, along with technical and administrative services. The program will also include workshops, specialized training sessions, and mentorship by leading industry experts, delivered both virtually and in person at TDF headquarters — ensuring accessibility for entrepreneurs across the Kingdom. The Tourism Hackathons and Bootcamps program aims to support innovators and early-stage tourism projects, with a focus on three key regions: Asir, Al-Ahsa, and Madinah. Running for five months, the program will allow participants to take part in hackathons followed by training bootcamps, helping them develop their ideas into actionable prototypes. Registrations opened on July 1 and will remain open until July 22. The Grow Tourism Accelerator builds on the success of previous cohorts, which have graduated 99 participants to date. This three-month program is designed to support startups and help them scale within the tourism sector. 'The accelerator also attracts international companies, enriching the diversity of the investment landscape and elevating service quality across the industry. The program provides integrated mentorship, culminating in graduation and connections with potential investors,' the TDF release stated. It added that the TDF Grow platform has supported 8,800 beneficiaries through its non-financial programs and initiatives, helping entrepreneurs and small and medium enterprises accelerate their projects and enhance the competitiveness of Saudi Arabia's tourism sector.


Arab News
17 hours ago
- Arab News
Program to boost youth, SME role in Saudi economy
RIYADH: The Small and Medium Enterprises Loan Guarantee Program, known as Kafalah, in collaboration with the Riyadh Chamber, will hold interactive sessions on July 15 to mark World Youth Skills Day. The initiative aims to raise awareness and develop entrepreneurial skills among youth, entrepreneurs and SMEs, the Saudi Press Agency reported on Wednesday. The sessions will cover key topics to boost youth contributions to national economic development, in line with the Kingdom's Vision 2030 reform plan. Focus areas include access to finance, building administrative and financial capabilities, enhancing SME sustainability, and turning ideas into viable projects. These sessions highlight the collaboration between entities supporting the SME sector in the Kingdom, the SPA added. The Kafalah program and Riyadh Chamber aim to foster youth growth and strengthen their role in the national economy. Kafalah supports micro, small and medium enterprises by providing financial guarantees, improving their access to financing and reducing lending risks for banks.