Bahrain
Kuwait
Oman
Middle East
GDN Online App available on
App Store / Play Store
Gulf Daily News Gulf Daily News
Gulf Daily News Gulf Daily News Gulf Daily News Gulf Daily News Gulf Daily News
Wednesday, December 12, 2018 ARCHIVES  |  SEARCH  |  POST ADS  |  ADVERTISE  |  SUBSCRIBE   |  LOGIN   |  CONTACT US

Fipco unit signs financing agreement with SIDF

KSA Business


Saudi Arabia-based Filling and Packing Materials Manufacturing Company (Fipco) has announced that its subsidiary FPC Industries Co has signed a financing agreement with the Saudi Industrial Development Fund (SIDF).

The credit facility is valued at SR35.50 million ($9.41 million), said a statement to Tadawul.

The loan will be repaid in 12 semi-annual installments, starting from September 2020 over a period of seven years.

Plant assets will be mortgaged to SIDF as a guarantee for the credit facility, it said.

You Might Like