Riyadh – Mubasher: Qomel Manufacturing Company, a subsidiary of Qomel Company, was granted the Saudi Industrial Development Fund’s approval to finance the construction of the Qomel Pharmaceutical Manufacturing plant.
The unit obtained the SAR 50.70 million investment, on 9 September 2024, to finance the construction of a pharmaceutical factory, according to a recent bourse filing.
The financing holds a grace period of up to 6 years, while the repayment will be made in 14 unequal semi-annual instalments starting on 15 February 2030.
Meanwhile, the facility deal is secured by a mortgage of all fixed assets related to the project as well as personal guarantees.
