Saudi Industrial Fund issues loans worth SAR 4.2 bln in H1-15

The Saudi Industrial Development Fund (SIDF) said it has approved 69 industrial loans worth SAR 4.2 billion in the first half of 2015.

SIDF has financed the establishment of 60 new projects accounting for 95 percent of total loans, as well as the expansion of nine existing projects.

The total cost of all projects stood at SAR 13.14 billion, which are expected to create 4,373 jobs.

A total of 3,838 loans worth SAR 122.2 billion have been approved by the fund (since inception) until the end of H1-2015. The organization has also offered to contribute to the establishment of 2,777 industrial projects in the kingdom.

Loans Issued by SIDF – H1-2015
Percent of total loans issued	Value (SAR bln)	No.	Loan
95%	4	60	Loans to new industrial projects
5%	0.2	9	Loans for existing industrial projects’ expansions
100%	4.2	69	Total

On a sector level, consumer industries dominated 50 percent of total loans, or SAR 2.1 billion. Chemical industries came second accounting for 24 percent, or SAR 1.01 billion.

Loans Issued by Industry – H1-2015
Percent of total loans	Value (SAR mln)	Industry
50%	2,089	Consumer
24%	1,013	Chemical
16%	666	Other
7%	287	Building materials
3%	142	Engineering industry
100%	4,197	Total

" Argaam Reports "

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