Hail Cement decides to pay SAR 152 mln to settle SIDF loan

Hail Cement Co. said its board of directors decided on Dec. 15, 2020, to pay early and in full the balance amount of the loan from the Saudi Industrial Development Fund (SIDF).

The amount pending stands at SAR 152 million. The original loan amount was SAR 300 million, out of which SAR 148 million is paid as of date, the firm said in a statement to Tadawul.

The financial impact will be reflected in the statements for the year ending Dec. 31, 2020.