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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 | 4.17 | -0.08 (-1.89 |
| FITAIHIGROUP | 3.95 | -0.11 (-2.71 |
| ARTEX | 13.60 | 0.22 (1.64 |
| NASEEJ | 86.70 | 0.00 (0.00 |
| LAZURDE | 12.74 | -0.28 (-2.16 |
16/05/2025
Abu Dhabi National Energy Company (TAQA), one of the largest listed integrated utilities companies in Europe, the Middle East and Africa, has delivered a 3.8% year-on-year revenue growth, reaching AE
Trade Arabia
16/05/2025
Abraj Energy Services has signed a contract with BP Oman to provide a drilling rig for operations in Block 61, with the rig expected to become operational in the fourth quarter of 2025.
The
Muscat Daily
16/05/2025
Commercial Bank, a leader in innovative digital banking solutions, has unveiled its all-new Corporate Mobile Banking App, setting a new standard for business banking in the region.
This stat
Gulf Times
16/05/2025
Emirates NBD is rolling out a new AI-driven solution to strengthen its compliance checks on payments and trade transactions, as part of a wider effort to improve safety, speed, and transparency in fi
Gulfnews
16/05/2025
In line with its leading and responsible role in the banking industry, National Bank of Kuwait continues to advance confidently towards building a sustainable future by implementing its environmental
Kuwait Times
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