Tanmiah Food’s subsidiary gets EUR 48.2 mln loan from Rabobank

04/08/2022 Argaam

Logo of Tanmiah Food Co.

Tanmiah Food Co. said that its subsidiary, Agriculture Development Co. (ADC), obtained a long-term Shariah-compliant financing facility, valued at EUR 48.2 million (SAR 184.6 million), from Coöperatieve Rabobank U.A to fund poultry production expansion. 

 

The nine-year facility is secured by a promissory note and other guarantees from Tanmiah, the company said in a statement to Tadawul.

 

The loan will be used in funding the capacity expansion of Tanmiah’s production facilities.

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