SIDF approves loans for 13 Saudi industrial projects

Saudi_projectsThe Saudi Industrial Development Fund (SIDF) has approved 13 loans worth US$293mn for carrying out nine new industrial projects and expansion of four existing industries.

New industrial projects

Finance for thirteen new industrial projects worth US$293mn and the expansion for four new projects worth US$453m, were signed.

The approval was given by the SIDF's board of directors chaired by Abdul Rahman Al-Humaidy, its president.

Construction and expansion

Projects include the construction of two new chemical industries and expansion of two existing ones, loan to construct a tyre factory in Yanbu and another to expand an existing chemical factory in Jubail, SIDF said.

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