Qassim Cement pens SAR 400M financing with SIDF

Logo of Qassim Cement 

Qassim Cement Co. signed a SAR 400 million financing agreement with the Saudi Industrial Development Fund (SIDF), according to a Tadawul statement.

The deal aims to help finance the construction of a fourth production line—with a production capacity of 10,000 tons per day—to replace some of the existing production lines at the company’s plant.

The financing has a nine-year tenor, including a two-year grace period and a seven-year repayment schedule.

The guarantees provided against the financing include a promissory note, assignment of the insurance policies for the new production line project in favor of the fund, and a pledge of assets in favor of the fund.

The company said it aims to benefit from the funds provided by SIDF, in addition to the Shariah-compliant credit facilities available from commercial banks, in a manner that meets its needs and helps reduce financing costs to the lowest possible level.

It added that all required signatures for the financing were completed on Aug. 13, noting that there are no related parties involved.

Qassim Cement signed, in August 2025, a SAR 1.12 billion contract with Sinoma International Engineering for the construction of a fourth production line at the company’s plant in Buraydah, according to data available on Argaam.