SIDF grants SAR 54 mln loan to SPIMACO's subsidiary

01/04/2015 Argaam
Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO) said its 65 percent-owned subsidiary, Dammam Pharma, has received approval from Saudi Industrial Development Fund (SIDF) to finance part of the company’s SAR 134 million project. 
 
The SAR 54.1 million finance-deal will be paid on a bi-annually basis in seven years with the guarantee of the fixed assets of the project, in addition to collateral guarantee from SPIMACO.
 
Dammam plans to build a pharmaceuticals plant in Dammam First Industrial City with Absal Paul, a Saudi-Irish company. 
 
The SAR 134 million-project should be completed in the second quarter of 2016.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.