Riyadh—Amlak
Hail Cement Company confirmed that the Saudi Industrial Development Fund has approved a loan of 300 million riyals to complete the construction of the Hail Cement Plant in the city of Turbah in the Hail region, The loan is subject to the condition that the industrial license be amended by the General Investment Authority and that a quarry license be obtained from the Ministry of Petroleum and Mineral Resources. The collateral will consist of a lien on all of the project’s fixed assets; the impact of the loan on the company’s financial statements will begin after the loan is received.