Saudi approves $293m loans for 13 factory projects
Plants for chemicals, tyres and construction materials to be built
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.