Hail Cement gets government fund for new plant, Saudi Arabia

Hail Cement Co said in a bourse statement yesterday that the Saudi Industrial Development Fund (SIDF) had agreed to extend a SAR300m (US$160m) loan.

The Saudi Arabian cement producer will use the funds to complete the construction of its cement plant in Turbah, which is scheduled for completion in the first quarter of 2013.

(Source: SeeNews Middle East and Africa).