Umm Al-Qura Cement reschedules outstanding loan from SIDF

Umm Al-Qura Cement Co. headquarters

Umm Al-Qura Cement Co. announced today, Aug. 16, rescheduling an outstanding loan from the Saudi Industrial Development Fund (SIDF), which came to support the company's financial position in line with its cash flows, according to a statement to Tadawul.

The loan value is SAR 656.9 million, with the rescheduled part amounting to SAR 323 million, the company noted.

Previously, the loan was slated to be repaid over semi-annual installments ending on Shaaban 15, 1446H (Feb. 14, 2025). After the rescheduling, the financing’s installments will be settled semi-annually until Shaaban 15, 1449H (Jan. 12, 2028).

The previously provided guarantees will be maintained alongside the following:

- The borrower undertakes to present an insurance document endorsed by the fund on all assets related to Umm Al-Qura's plant, including the two conditions stipulated by the fund, provided that it is completed within three months of signing the amended agreement.

- The borrower undertakes that, in the event of distributing more profits than the total loan repayment during the fiscal year, an amount equal to the increase must be paid against the outstanding loan, as the advance payment is applied against the due loan installments in reverse order.