Al-Jouf Agriculture lands $40M loan to shift off liquid fuel
What's the deal? Al-Jouf Agriculture Development Co.Dealroom has a profile for this one. Try Dealroom → has signed a SAR 150 million (≈$40 million) loan agreement with the Agricultural Development FundDealroom has a profile for this one. Try Dealroom →. The financing is designated to cover the company's internal transition costs under Saudi Arabia's national liquid fuel displacement program.
The terms: The credit facility is secured by promissory notes. Repayment runs in five annual installments after a grace period, starting 7 September 2027 and concluding 7 September 2031.
Why now? The loan ties to the company's 29 January 2026 announcement about connecting electricity to its facilities in the Busaita center within the Al Jouf region. The initiative aims to move operations away from liquid fuel.
The bigger picture: Al-Jouf is in the middle of a broader capital push. Earlier this month, it applied to the Capital Market Authority to raise its share capital from SAR 300 million to SAR 345 million.
The company confirmed no related parties are involved in the loan transaction.
The signal: The quick succession of the capital increase filing and this debt deal shows Al-Jouf moving fast to fund its energy transition. Swapping liquid fuel for grid electricity reflects a wider Saudi drive to cut operational fuel dependence across industry.
Image credit: Generated with Gemini
