RIYADH, SAUDI ARABIA – Basic Chemical Industries Co.’s (BCI) subsidiary Chemical Marketing and Distribution Co. Ltd. secured a loan from the Saudi Industrial Development Fund (SIDF) to finance its project in Jubail Industrial City.
The US$100 million (SAR 376 million) loan, secured on Sunday, has a duration of seven years and three months starting from October 8, 2025, according to a statement to Tadawul.
BCI mortgaged all fixed assets of the project as guarantees for financing, in addition to a corporate guarantee covering 100 percent of SIDF loan, the statement added.
The financing aims to strengthen the company’s financial position through repaying around 90 percent of the current commercial loan that was obtained to help finance the company’s project in Jubail Industrial City.
The move also aims to replace the current loan with another one from SIDF at a lower cost and with more flexible repayment terms.
This will contribute to strengthening profitability and cash flows.