BCI's subsidiary secures SAR 376M loan from SIDF

18/12/2023 Argaam

BCI's subsidiary secures SAR 376M loan from SIDF

One of BCI factories

Basic Chemical Industries Co.'s (BCI) subsidiary, Chemical Marketing and Distribution Co. Ltd. secured a loan from the Saudi Industrial Development Fund (SIDF) on Dec. 17 to finance its project in Jubail Industrial City. 

 

The SAR 376 million loan has a duration of seven years and three months starting from Oct. 8, 2025, according to a statement to Tadawul. 

 

BCI mortgaged all fixed assets of the project as guarantees for financing, in addition to a corporate guarantee covering 100% of SIDF loan, the statement added. 

 

The financing aims to strengthen the company’s financial position through repaying around 90% of the current commercial loan that was obtained to help finance the company’s project in Jubail Industrial City. The move also aims to replace the current loan with another one from SIDF at a lower cost and with more flexible repayment terms. This, accordingly, will contribute to strengthening profitability and cash flows. 

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