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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
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
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
22/01/2013
Saudi Industrial Development Company (SIDC) announces interim consolidated financial results for the period ended 31/12/2012 (TWELVE MONTHS).
1-Net profit during the fourth quarter is (4.4)
Tadawul
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| ALASEEL | 3.91 | -0.03 (-0.77 |
| FITAIHIGROUP | 4.04 | -0.03 (-0.74 |
| ARTEX | 12.88 | -0.02 (-0.16 |
| NASEEJ | 96.00 | 0.00 (0.00 |
| LAZURDE | 12.76 | -0.48 (-3.63 |
10/03/2025
Doha Bank introduced a suite of exclusive offers for NRIs on their Visa Platinum Debit Card, delivering exceptional value across travel, lifestyle, dining, and retail. These carefully curated benefit
The Peninsula
10/03/2025
Saudi Awwal Bank has been awarded the Sustainability Program of the Year 2024 at the Capital Markets Forum (CMF), organized by the Saudi Stock Exchange Group (Tadawul).
This achievement make
Saudi Gazette
10/03/2025
Saudi Aramco has lowered its crude oil prices for Asian buyers in April, marking the first reduction in three months. This price cut aligns with market expectations and follows the decision by OPEC+
Arab News
09/03/2025
United Development Company (UDC), the master developer of The Pearl and Gewan Islands, has continued its global track record of accomplishments by securing three new Guinness World Records. This rema
The Peninsula
07/03/2025
Talabat Kuwait has denied rumors of a security breach, assuring customers and partners that all personal and payment information remains fully secure.
In an official statement, Bader Al-Ghan
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