Qassim Cement Company has signed a SAR400m (US$106.7m) financing agreement with the Saudi Industrial Development Fund (SIDF) to support construction of its fourth production line.
The new line will have a production capacity of 10,000tpd (3.65Mta) and will replace certain older production lines at the company’s plant. Qassim Cement said the project is intended to improve energy efficiency and environmental performance.
The financing has a nine-year term, including a two-year grace period followed by repayment over seven years. Guarantees include a promissory note, endorsement of the new line’s insurance policies in favour of SIDF and a mortgage over assets.
Qassim Cement completed the financing agreement on 13 August 2026. The company said it intends to combine the SIDF funding with Sharia-compliant credit facilities from commercial banks to meet its financing requirements and minimise financing costs.
The fourth production line project was originally announced in August 2025.
