SIDF grants SR6.7 billion loans for 144 industrial projects

21/01/2014 08:25 AST

Saudi Industrial Development Fund (SIDF) approved 144 loans worth SR6.68 billion, with an increase of 6 percent over the loans of 2012, local media said quoting a senior SIDF official.

The loans were allocated for the establishment of new 120 industrial projects and expansion of 24 existing ones whose investments totaled SR14.5 billion, SIDF Chief Ali bin Abdullah Al-Ayid said.

The SIDF chief predicted that the SIDF-funded projects will create some 11,443 direct jobs to Saudi jobseekers. The volume of repaid loans during the last year stood at SR4.3 billion, the highest repayment rate in one year since the establishment of the fund, he said.

Some 55 percent of the approved loans, or 66 percent of their values, went to the least developed areas of the Kingdom, he noted. Prior to the application of the Council of Ministers' decision in this regard, this percentage was not exceeding 14 percent, or 15 percent of their values, the SIDF chief said.

This tendency is a proof on the success of the government policy aimed to speed up the pace of development in the least developed areas and to achieve a balanced development between the different regions of the Kingdom, he added.

The SIDF used to provide financial assistance in the form of medium and long term loans to investors in industry besides offering technical, administrative, financial and marketing advice to borrowers.


Arab News

News

SIDC eyes strategic acquisition of Saudi construction firm

10/08/2026

Saudi Industrial Development Company (SIDC) has announced that it had signed a non-binding MoU with Sudom Investment Company and Mohammed A. AlSwailm Holding to explore the acquisition of the entire

Trade Arabia

SIDC Announces Financial Results for Year 2013

15/01/2014

Net profit of Saudi Industrial Development Company (SIDC) during the 4th Q 2013 amounted to SAR 7 million versus SAR 4 million for the same quarter of last year with an increase of 75 %, compared to

Gulfbase.com

SIDC announces annual financial results

25/02/2013

Saudi Industrial Development Company "SIDC" announces annual financial results ended 31/12/2012.

1.Net profit during this period was (33.2) million riyals compared to net profit of (24.6)

Tadawul

Most Viewed Companies

Ticker Price Volume

Valuation

SIDC Sector Market
P/E
Price/BookValue

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
ALASEEL 3.51 0.00 (0.00%)
ARTEX 11.42 0.02 (0.17%)
FITAIHIGROUP 2.47 0.02 (0.81%)
LAZURDE 10.78 0.08 (0.74%)
NASEEJ 25.66 1.16 (4.73%)

Recent News

Nakilat holds EGM for shareholders

25/08/2026

Qatar Gas Transport Company (Nakilat) held its Extraordinary General Meeting (EGM) yesterday via videoconference after reaching legal quorum, and all items on the agenda were endorsed during the EGM.

Gulf Times

Commercial Bank concludes launch event of 'One Card... Two Ways to Be Rewarded' campaign

25/08/2026

Commercial Bank of Kuwait has successfully wrapped up the launch event for its new campaign, '"One Card... Two Ways to Be Rewarded", designed for World, Platinum, and Titanium Mastercard credit cardh

Kuwait Times

Gulf Bank launches back-to-school campaign

25/08/2026

Gulf Bank has launched a back-to-school and university campaign for the new academic year, combining student activities, financial literacy initiatives and support for children from families in need

Kuwait Times

Dubai's Parkin in talks to expand operations to other emirates, GCC countries, says CEO

25/08/2026

Parkin Company will look to expand to other emirates as well as actively assess opportunities in the GCC, its CEO said.

The Dubai-based parking operator continues to see significant investme

Khaleej Times

Adnoc Distribution signs South Africa empowerment deal for Shell acquisition

25/08/2026

Adnoc Distribution signed an agreement with South African investment group Reatile Group for the latter to acquire a minority stake in Shell's downstream business in South Africa, as part of Adnoc Di

Khaleej Times

logo

Financial Information Co.

Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2025, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap