- JEDDAH: Saudi Industrial Development Fund (SIDF) has endorsed an amount of SR693 million in loans to support 16 projects, contributing to the establishment of 14 new industrial projects and bringing about expansions in two existing industrial projects, whose total investments are estimated at SR1.6 billion.
SIDF's Acting Director General Ali bin Abdullah Al-Ayed highlighted the fund's leading role in supporting and developing the industrial sector in the Kingdom and achieving the diversification of its economic base.
"SIDF also helps in the exploitation of the local raw materials and attracting foreign capital in addition to facilitating the transfer of modern technology," he said.