Latest news with #SIDF
Zawya
07-07-2025
- Business
- Zawya
Oman and Saudi Arabia launch second phase of industrial integration
RIYADH: The second phase of industrial integration initiatives between Oman and Saudi Arabia (KSA) was launched in Al Riyadh as part of the work of the Economy, Trade, and Industry Committee of the Omani-Saudi Coordination Council, on Saturday. The launch ceremony was held under the auspices of Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, in the presence of Bandar bin Ibrahim al Khorayef, Minister of Industry and Mineral Resources of Saudi Arabia. The event was attended by Sayyid Najib bin Hilal bin Saud al Busaidy, the Sultanate of Oman's Ambassador to the Kingdom of Saudi Arabia, its Permanent Representative to the Organisation of Islamic Cooperation and its Permanent Representative to the Digital Cooperation Organisation in Al Riyadh, and a number of officials representing both countries. A visual presentation was staged highlighting the most prominent existing industrial initiatives between the two countries and future plans in certain sectors within the paths of joint industrial integration. A number of future initiatives aimed at enhancing industrial cooperation, expanding the scope of mutual investments, and supporting supply chains and manufacturing between the two countries, were discussed. Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, met with HH Prince Sultan bin Khalid al Saud, CEO of the Saudi Industrial Development Fund (SIDF). During the meeting, they discussed financing opportunities and financial support for joint industrial projects, as well as ways to exchange expertise in the areas of industrial zone development and financing infrastructure supporting the industrial sector. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Zawya
23-06-2025
- Business
- Zawya
Saudi: First Milling inks financing deal with SIDF
Riyadh: First Mills Company has signed a SAR 69.40 million financing facility agreement with the Saudi Industrial Development Fund (SIDF), according to a bourse filing. The funding aims to support the company's capital expenditure for several upcoming projects that will contribute to expanding and boosting its activities. The agreement, secured on 17 June 2025, will be repaid in 12 equal semiannual instalments, beginning on 15 February 2027 and concluding on 15 August 2032. The loan is backed by a full-value, irrevocable, and unconditional bank guarantee issued by a local bank approved by the Saudi Central Bank (SAMA). As of 31 March 2025, First Mills reported net profits of SAR 79.66 million, marking a 2.49% year-on-year (YoY) increase from SAR 77.72 million.
Argaam
19-06-2025
- Business
- Argaam
First Mills secures SAR 69M loan from SIDF
First Mills Co. signed a SAR 69.4 million financing agreement with the Saudi Industrial Development Fund (SIDF) to support capital expenditures for upcoming projects and drive the company's expansion, it said in a filing to Tadawul. The loan will be repaid in 12 equal semiannual installments, starting Feb. 15, 2027, and ending Aug. 15, 2032, following a grace period. First Mills said it issued an irrevocable bank guarantee from a local bank approved by the Saudi Central Bank (SAMA), covering the full loan amount. The company added that any material developments related to the SIDF facility will be announced in accordance with applicable regulations.
Arab News
17-06-2025
- Business
- Arab News
SIC, Investindustrial forge alliance to drive Saudi industrial expansion
RIYADH: SIDF Investment Co., the financial arm of the Saudi Industrial Development Fund, has entered into a strategic partnership with European private equity firm Investindustrial, marking its first international private equity commitment. The agreement is aimed at catalyzing new industrial investments in the Kingdom by localizing advanced manufacturing and integrating Saudi small and medium-sized enterprises into Investindustrial's global value chains. The partnership is a significant milestone for SIC as it broadens its international engagement and supports Saudi Arabia's Vision 2030 objectives. These include attracting institutional capital, localizing industrial expertise, and contributing to the National Industrial Strategy, which targets increasing the number of factories to 36,000 by 2035. The announcement follows a previous agreement in March between SIC and Ashmore Investment Saudi Arabia to launch a private closed-end industrial fund. The SR400 million ($106.6 million) initiative — the first of its kind in the Kingdom — is managed by a global asset manager and aims to support a wide array of industrial assets. That move laid the foundation for SIC's private equity strategy to stimulate domestic investment and expand global partnerships. 'This agreement represents a new chapter for SIC,' said Fahad Al-Naeem, CEO of SIC. 'By partnering with Investindustrial, we're bridging global reach, operational depth, and industry specialization into our ecosystem, positioning Saudi Arabia as the platform for regional and international manufacturing growth.' The targeted sectors include machinery and equipment, automation, medical devices, and sustainable consumer products, with an emphasis on local value creation and industrial innovation. This move comes as the Kingdom ramps up efforts to strengthen its industrial base and draw international investment into strategic sectors. In April, Saudi Arabia's Industrial Production Index rose 3.1 percent year on year, led by gains in manufacturing and mining. Manufacturing activity alone climbed 7.4 percent annually, with a 0.5 percent uptick month on month. Adding to this momentum, the government launched the Standard Incentives for the Industrial Sector program in May, offering up to 35 percent financing on initial capital expenditure per project, capped at SR50 million. The initiative supports facility development and operations over a seven-year term. 'SIC will utilize its local market expertise to pave the way for global manufacturers to establish a footprint in Saudi Arabia and connect with international supply chains, benefiting from the Kingdom's competitive position,' Al-Naeem added. Investindustrial, which has raised €17 billion and operates across eight global offices, focuses on mid-market companies with a mission to drive sustainable value creation and support global expansion. 'The Kingdom of Saudi Arabia has emerged as a key strategic growth region for Investindustrial's portfolio companies,' said Andrea Bonomi, chairman of Investindustrial. 'Many of our investments align closely with the goals of Saudi Arabia's Vision 2030, fostering strong and natural synergies for long-term value creation,' Bonomi added. The signing ceremony was attended by Prince Sultan bin Khaled, vice chairman of SIC, and Italy's Ambassador to Saudi Arabia, Carlo Baldocci, reflecting the high-level support backing the agreement. The deal further advances SIC's role as a gateway for institutional-grade industrial investment into Saudi Arabia, reinforcing its mandate to help build a globally competitive and resilient manufacturing sector.
Trade Arabia
02-04-2025
- Business
- Trade Arabia
Saudi ministry showcases latest innovations at Hannover Messe
The ministry is taking part at the event as part of the big Saudi Industry and Mineral Resources pavilion which has other key entities including the Saudi Industrial Development Fund (SIDF), the Saudi Export Development Authority, the Saudi Authority for Industrial Cities and Technology Zones (Modon), and the National Industrial Development Center. The pavilion showcases key enablers in the industrial sector, along with targeted incentive schemes designed to support its growth and boost investment appeal. It highlights the kingdom's competitive advantages in the sector, including advanced infrastructure and a network of 36 industrial cities across various regions, reflecting efforts to localize knowledge and empower the private sector. Saudi Arabia's participation reflects its ambitious vision for industrial transformation and underscores its ongoing commitment to technological innovation and sustainable development, said senior officials at the event. The ministry officials are meeting potential global investors at the event to highlight the wide range of investment and collaboration opportunities in the industrial and mining sectors. "The initiative seeks to establish strategic and fruitful partnerships to help realize Saudi Arabia's industrial aspirations. It will also facilitate high-impact agreements to attract foreign investments and strengthen the national economy in alignment with the Kingdom's Vision 2030 targets," they stated.
