SIDF CEO: We Offer 75% Financing to Qualified Mining Projects

SIDF CEO: We Offer 75% Financing to Qualified Mining Projects

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Saudi Arabia
  • Date: 15-Jan-2022
  • Source: Asharq AL-awsat
  • Sector: Economy
  • Country: Saudi Arabia
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SIDF CEO: We Offer 75% Financing to Qualified Mining Projects

Saudi Industrial Development Fund (SIDF) CEO Ibrahim Almojel revealed that the total value of loans approved by the Fund for the mining sector since the launch of Saudi Arabia’s national plan for transformation, Vision 2030, has exceeded SR4.8 billion ($1.28 billion).

Almojel confirmed that the Fund offers financing up to 75% of the mining projects that meet the relevant requirements.

Speaking to Asharq Al-Awsat, Almojel said that the mining sector is one of the most important investment pillars targeted in Vision 2030. This is due to Saudi Arabia’s untapped mineral resources and unique geographical location linking the three continents: Asia, Africa, and Europe.

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