| Introduction | FIPCO is pleased to announce for the distinguished shareholders that it has signed financing agreement with SIDF as follows: |
| Date of obtaining the funding | 2021-12-15 Corresponding to 1443-05-11 |
| Financing entity | THE SAUDI INDUSTRIAL DEVELOPMENT FUND (SIDF) |
| Financing amount. | SR 15,1 million |
| Financing duration. | The loan will be repaid in 12 unequal, semi-annual installments, starting from 15/08/1445H, over a period of seven years, as agreed with SIDF. |
| Guarantees offered for the financing | Plant assets will be mortgaged to SIDF as well as signing of a promissory note at the benefit of SIDF. |
| Financing objective | Financing an expansion of all products of small, jumbo and valve bags aiming to increase the production capacity (Productivity) and improve the quality levels. |
| Related Parties | No related Parties involved in this agreement. |
