Sadr secures SAR 74.6M credit facilities from ADF

Sadr Logistics Services Co. sealed a SAR 74.6 million loan agreement with the Agricultural Development Fund (ADF), as per the fund's 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 Riyadh’s 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 Sadr's expansion strategy for logistics services.

The 10-year funding is guaranteed by a mortgage covering the project’s assets (construction and equipment) and a mortgage on the project’s land.