19-06-2025
SIDC subsidiary secures SAR 10M credit facility from SDB
Saudi Industrial Development Co. (SIDC) said that its subsidiary Emdad Logistic Services Co. signed a Shariah-compliant agreement to obtain SAR 10 million facilities from the Social Development Bank (SDB).
In a statement to Tadawul, SIDC said the five-year agreement was signed on May 15. The facilities will be used for capital expansions.
The amount is fully guaranteed by a promissory note. A performance bond is also provided by Emdad partners: Global Marketing Co. for Sleeping System Ltd. (Sleep High) and Road Storm Trading & Contracting Co.
All legal measures were finalized, with the final copy received on June 18.
