Hail Cement to repay outstanding loan amount

Hail Cement said its Board of Directors decided on 15 December 2020, to pay early and in full the balance amount of the loan from the Saudi Industrial Development Fund (SIDF).

The amount of SAR152m (US$40.53m) is what is left from the original loan amount of SAR300m. A total of SAR148mis has already been repaid, the firm said in a statement. The financial impact will be reflected in the statements for the year ending 31 December 2020.