Saudi Fund committed US$2.6bn loans to cement industry in 2010

Saudi Fund committed US$2.6bn loans to cement industry in 2010
Published: 08 June 2011



The Ministry of Finance in the Kingdom of Saudi Arabia reported that the Saudi Investment Development Fund (SIDF) committed loans amounting to SAR9695m (US$2584m) to the cement industry in 2010, equivalent to 11% of total loans approved and amounting to the same value of loans committed in 2009.

This ranks the cement industry in fourth place according to amount of loans committed, following the chemical, engineering and consumer product industries. During 2010 fiscal, the SIDF did not approve any loans to the sector on the basis that local production capacities were adequate to meet current local demand.