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FIPCO’s unit gets SAR 35.3 million facility from SIDF

2018-12-05 16:07:57 GMT (Economies.com)
 

Filing and Packing Materials Manufacturing Company (FIPCO) on Wednesday announced that its subsidiary FPC Industries Co. signed a seven-year financing agreement with the Saudi Industrial Development Fund (SIDF), at a value of SAR 35.3 million.

The facility amount will be repaid on 12 semi-annual instalments, starting from August 15, and will be secured via mortgaging the plant's assets to SIDF, in addition to providing a promissory note.

The facility will be utilized to finance one of the company’s projects through which it aims to manufacture coated technical fabrics.

FIPCO announced in June completion of supplying and installing main production lines in FPC Industries, with trial operation to begin by the end of the second quarter of this year.

 
 
 
  Symbol Last Change Chg.%
1.1910
0.0016
0.1362%
1.3378
-0.0005
0.0392%
Tadawul
8688.76
21.04
0.24%
23.305
-0.740
3.078%
45.910
3.085
7.204%
48.90
1.04
2.17%
1805.655
-60.855
3.260%
 
 
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