Sadirat board backtracks on planned investment in FAAD Industrial Fund

Logo of Saudi Industrial Export Co.’s (Sadirat)

Saudi Industrial Export Co.’s (Sadirat) board of directors decided not to proceed with the planned investment in the FAAD Industrial Fund, following a feasibility study and comprehensive due diligence, according to a statement to Tadawul today, March 4.

According to data available with Argaam, in August 2025, the board had approved the now-canceled investment through its investment arm Haddaj Investment Co., having allocated as much as SAR 70 million for the subscription to units of the closed-ended FAAD Industrial Fund, which is licensed by the Capital Market Authority (CMA) and managed by FAAD Financial Partners.

This followed the signing of non-binding agreements to establish that fund in partnership with FAAD Financial Partners and Nama Chemicals Co., to be dedicated for investing in Jubail Chemical Industries Co. (JANA), a subsidiary of Nama Chemicals.

In December 2025, Sadirat received a notice from FAAD Financial Partners, stating that FAAD Industrial Fund’s offering period lapsed without raising the minimum threshold to launch and operate the fund. As a result, based on the applicable regulations, the offering was canceled.