| Introduction | Qomel announces that its subsidiary (Qomel Manufacturing Company, a limited liability company) which is wholly owned 100% by Qomel, has received an approval (commitment letter) from the Saudi Industrial Development Fund to finance the construction of the Qomel Pharmaceutical Manufacturing plant. |
| Date of obtaining the funding | 2024-09-09 Corresponding to 1446-03-06 |
| Financing entity | Saudi Industrial Development Fund |
| Financing amount. | 50,700,000 SR |
| Financing duration. | The financing duration is 6 years with a grace period of up to 6 years, and the loan repayment will be made in 14 unequal semi-annual installments starting on February 15, 2030, according to the repayment schedule agreed. |
| Guarantees offered for the financing | Mortgage of all fixed assets related to the project + personal guarantees |
| Financing objective | To finance the construction of a pharmaceutical factory (Qomel Manufacturing Company) |
| Related Parties | No related parties on this agreement |
| Additional Information | None |
