Saudi approves $293m loans for 13 factory projects

Plants for chemicals, tyres and construction materials to be built

Saudi is investing heavily in its industrial infrastructure.
Saudi is investing heavily in its industrial infrastructure.

RELATED ARTICLES: SABIC inks deal with Matsui for plastics industrySaudi billionaire eyes $3.4bn Ethiopia projects Saudi health minister launches $400m Hail projects

The Saudi Industrial Development Fund (SIDF) has approved loans worth $293m for 13 industrial projects throughout the Kingdom.

The 13 loans were approved by board of directors, which is chaired by Abdul Rahman Al-Humaidy, and would be poured into projects with investments totalling $745m.

Projects include the construction of two new chemical industries and expansion of two existing ones, totalling $347m; a $83m loan to construct a tyre factory in Yanbu and a $55m loan to expand an existing chemical factory in Jubail.

Three new factories for construction materials will also be built in Madinah, Dammam and Thadik. Loans for them, and the expansion of another factory, total $255m.
 

Most popular

Awards

CW Oman Awards 2020: Meet the winners
A round of the thirteen winning names at the Construction Week Oman Awards 2020 that

Conferences

Leaders UAE 2020: Building a sustainable, 'resilient' infra
AESG’s Phillipa Grant, Burohappold’s Farah Naz, and Samana's Imran Farooq on a sustainable built environment
CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this

Latest Issue

Construction Week - Issue 767
Sep 01, 2020