Saudi’s BCI unit secures $100mln loan for Jubail industrial project

Saudi Arabia’s Basic Chemical Industries (BCI) said its subsidiary, Chemicals Marketing and Distribution Company Limited, has secured an industrial loan of 376 million Saudi riyals ($100.23 million) from the Saudi Industrial Development Fund (SIDF) to finance its project in Jubail Industrial City.

The financing will have a repayment period of 87 months, which will commence on October 8, 2025, the company said in a statement to the Saudi stock exchange.

The new cost-effective financing will allow repayment of 90% of an existing commercial loan, as well as boost profitability and cash flows, the statement added.

(Editing by Brinda Darasha; [email protected])