The Saudi Industrial Development Fund (SIDF) has approved 14 loans worth SR 587 million for the establishment of nine industrial projects and expansion of five existing projects with investments totaling SR 1.13 billion, SIDF General Direcror Ali al-Aid said.
The consumer industry sector captured the biggest value of loans worth SR 237 million, followed by chemical industry sector at SR 224 million while the value of loans went to the engineering industries sector and other supporting industrial facilities stood at SR 75 million and SR 51 million respectively, he said.
The loans approved for consumer industry sector are meant to fund five projects in different parts of the Kingdom whose investments are totaling SR 435 million, he said.
Five loans were allocated for chemical industry sector with their investments reaching SR 427 million whereas two loans worth SR 75 million were allocated for engineering industry sector whose investments stood at SR 171 million, he was quoted as saying.
The SIDF has approved two loans worth SR 51 million aimed to construct an industrial training center in Dammam First Industrial City and another project for construction of a workers housing unit in Jeddah Industrial City composed of 627 rooms that could accommodate up to 2,480 tenants, he said.
SR587m for 14 industrial projects
