Riyadh – Mubasher: Filing and Packing Materials Manufacturing Company (FIPCO) has signed a financing agreement with the Saudi Industrial Development Fund (SIDF) to secure a loan worth SAR 15.1 million.
FIPCO obtained the funding on 15 December 2021, while the facility will be repaid over seven years through unequal semi-annual instalments, according to a bourse filing on Wednesday.
The Saudi company aims to finance its expansion plans, which include all products of small, jumbo, and valve bags, to increase its production capacity and improve quality.
