Saudi Industrial Development Fund (SIDF) has endorsed an amount of SR 693 million in loans to support 16 projects, contributing to the establishment of 14 new industrial projects and bringing about expansions in two existing industrial projects, whose total investments are estimated to be SR 1.6 billion. SIDF's Acting Director General Ali bin Abdullah Al-Ayed told a news briefing this morning that the Fund continues its leading role in supporting and developing the industrial sector in the Kingdom of Saudi Arabia and achieving the diversification of its economic base as well as generating employment opportunities for Saudis. "Moreover, SIDF also helps in the exploitation of the local raw materials and attracting foreign capital in addition to facilitating the transfer of technology and preserving the safety of the environment."
