ELEMENT LIST EXPLANATION
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.