SIDC subsidiary secures SAR 10M credit facility from SDB

19/06/2025 Argaam
Logo of Saudi Industrial Development Co. (SIDC)

Logo of Saudi Industrial Development Co. (SIDC)

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).

 

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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.

 

There are no related parties to the agreement, SIDC added.

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