Saudi Industrial Fund Approves Loans for 17 Projects, Arab News

The Saudi Industrial Development Fund has approved 17 loans valued at 2 billion riyals ($533 million) to establish 11 new projects and expand six existing ones, Arab News said, citing Ali Bin Abdullah Al-Ayed, the fund’s director general.

The loans include 900 million riyals for mining, 355 million riyals for engineering industries and 257 million riyals for chemical production, the paper said.

To contact the reporter on this story: Donna Abu-Nasr in Manama at dabunasr@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net