The Board of Directors of the Saudi Industrial Development Fund, which met under the chairmanship of the Minister of Energy, Industry, and Mineral Resources, Eng. Khalid bin Abdulaziz Al-Falih, approved funding for 24 industrial projects, with total investments exceeding 2.6 billion riyals, in amounts totaling more than 691 million riyals.

These projects, which span various industrial sectors, aim to promote balanced economic development across the Kingdom’s different regions, meet market demands, and support the growth of the national industrial sector.The Board also approved a co-financing agreement between the Industrial Development Fund and the Agricultural Development Fund to support the compound feed industry in the Kingdom, with the aim of ensuring the local market’s needs for such feed are met, and to unify and coordinate efforts to avoid duplication.In a statement issued on the occasion of the Fund’s Board of Directors meeting, Eng. Khalid Al-Falih affirmed that the Board—which is an active partner in the continuity and success of the Kingdom’s industrial development—is working diligently, through various programs aligned with the government’s directives as outlined in Saudi Vision 2030 and embodied in the National Transformation Program 2020, to fulfill the essential role entrusted to it in the coming period.