Qassim Cement Company Announces Signing a Financing Agreement with the Saudi Industrial Development Fund
| Element List | Explanation |
|---|---|
| Introduction |
Qassim Cement Company announces the signing of a financing agreement amounting to Four Hundred Million SAR Only with the Saudi Industrial Development Fund (SIDF).
The financing will contribute to funding the construction of a fourth production line at the Company's plant with a production capacity of 10,000 tons per day, which will replace certain existing production lines. |
| Date of obtaining the funding | 2026-08-13 Corresponding to 1448-02-30 |
| Financing entity | Saudi Industrial Development Fund (SIDF). |
| Financing amount. | SAR 400,000,000 (Four Hundred Million SAR Only). |
| Financing duration. | 9 years, including a 2-year grace period, with a repayment schedule over 7 years. |
| Guarantees offered for the financing |
Promissory Note.
Endorsement of insurance policies for the new production line project in favor of the Fund. Mortgage the assets in favor of the Fund. |
| Financing objective |
The financing will contribute to funding the Company's fourth production line project, previously announced on 14 August 2025, with a production capacity of 10,000 tons per day, replacing certain older production lines and supporting the objectives of improving energy utilization efficiency and protecting the environment.
The Company also intends to benefit from the financing provided by the Saudi Industrial Development Fund, in addition to the credit facilities available from the commercial banks (Sharia-compliant) , in a manner that aligns with its financing requirements and contributes to minimizing financing costs. |
| Related Parties | None |
| Additional Information | All required signatures related to the financing agreement were completed on 13 August 2026, corresponding to 30-02-1448 H. |
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Qassim Cement Company is a Saudi Joint Stock company, established in accordance with the Royal Decree No. M/62 on 15 Shaban, 1396H. (August 11, 1976) and registered in Buraydah City under commercial registration number 1131001224 on 28 Shaban, 1398 (August 2, 1978). On 4 of Dhu al-Hijjah 1445 AH (June 10, 2024), Qassim Cement Company announced the completion of the acquisition of Hail Cement Company (HCC) by increasing its capital through the issuance of new shares to Hail Cement Company shareholders.
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Qassim Cement Co.| Building No: 4266 | Unit Number: 1 | Buraidah: 52271 - 6735 | Kingdom of Saudi Arabia
Phone : (+966) 16 316-5555
Fax : (+966) 16 381-6041
Email : qcc@qcc.com.sa
