Saudi Arabia’s Al Jouf Agricultural Development Company (JADCO) has obtained a loan worth 186 million riyals ($49.6 million) to set up a French fries factory in the kingdom. 

The company, based in Al Jouf, northern Saudi Arabia, had guaranteed the 10-year loan from the Agricultural Development Fund by mortgaging part of its land and the fixed assets of the new French fries project, JADCO said in a filing to the Saudi Stock Exchange (Tadawul) on Thursday. 

(Writing by Imogen Lillywhite; editing by Cleofe Maceda) 

imogen.lillywhite@lseg.com 

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