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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 | 3.37 | 0.03 (0.89 |
| ARTEX | 11.84 | -0.28 (-2.32 |
| FITAIHIGROUP | 3.04 | 0.05 (1.67 |
| LAZURDE | 11.75 | 0.03 (0.25 |
| NASEEJ | 49.36 | 1.18 (2.44 |
21/11/2025
Zain Bahrain has unveiled 360kW ultra-fast EV chargers at the company's headquarters in Seef, the fastest of its kind in the kingdom, the company said.
The chargers feature advanced liquid-c
Trade Arabia
21/11/2025
Space42, the UAE's leading AI-powered SpaceTech company with global reach, and EDGE Group, one of the world's leading advanced technology and defence groups, today announced the formation of a strate
Trade Arabia
21/11/2025
Baker Hughes, an energy technology company, has announced that it has secured a multi-year contract with China Petroleum Engineering & Construction Corporation (CPECC) for a major project of Saudi oi
Trade Arabia
21/11/2025
Riyad Capital, one of the kingdom's largest asset managers and a leading company in real estate investment, has announced the launch of a new residential development fund valued at SAR1.7 billion ($4
Trade Arabia
21/11/2025
Saudi-based Alkhorayef Water and Power Technologies Company has announced that it has secured a contract worth SAR221 million ($59 million) from the National Water Company for sanitary sewer networks
Trade Arabia
Financial Information Co.
Saudi Arabia