Industrial Fund approves SAR 287 mln credit to SPIMACO

07/08/2018 Argaam

 

Saudi Pharmaceutical Industries and Medical Appliances Co. (SPIMACO) received on Tuesday Saudi Industrial Development Fund’s approval on a SAR 287.1 million credit, the company said in a bourse statement.

 

The loan, which will go towards financing existing projects, will be repaid on ten semiannual installments starting from June 2020, the statement added.

 

The agreement will be signed later after obtaining required regulatory approvals.

 

No related parties are involved in the deal, the company also said.

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