Industrial sector loans hit SR1 trillion in 2nd quarter

Industrial sector loans hit SR1 trillion in 2nd quarter
Updated 14 September 2014

Industrial sector loans hit SR1 trillion in 2nd quarter

Industrial sector loans hit SR1 trillion in 2nd quarter

The government-run financing agencies have provided loans worth SR1.01 trillion to the industrial sector by the end of Q2, 2014, according to a financial report.
The number of factories reached 6,751 by the end of Q2 distributed in 23 industrial activities employing some 905,400 workers, a report in Al-Eqtisadiah daily said.
According to the report, the Central Region captured the biggest number of factories at 3,181, or 47.1 percent of totals whereas the volume of finance (loans) reached SR129 billion, or 12.8 percent of the total loans.
The region captured 42.2 percent of the Kingdom’s total manpower at 381,900, the report said.
However, the Eastern Province captured the highest portion of finance at SR630.9 billion, or 62.3 percent of totals whereas the Northern Region received the least number of factories at 183, or 2.7 percent of total factories Kingdomwide. The Southern Region received the least finance at SR12.9 billion, the report said.
Petrochemical and chemical products’ sector received the lion’s share of government-support finance at SR458.8 billion, or 45.3 percent of totals, followed by coke and refined oil products at SR138.6 billion (14 percent), non-metallic mineral products at SR91.1 billion (9 percent), basic metals at SR74.8 billion (7.4 percent), food industries at SR55 billion (4.7 percent), beverages at SR42.8 billion (4.2).
Transport, equipment repair, leather products industries received the least finance at 0.03 percent, 0.06 percent and 0.07 percent, respectively, the report added.
On the other hand, non-metallic mineral products industries captured the highest number of factories within the government-financed activities at 1,366 factories, or 20.2 percent of totals, followed by fabricated metal products at 926 (13.7 percent), plastics products at 840 (12.4 percent), food industries at 716 (10.6 percent), the report said.