Riyadh - Mubasher: Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO) announced receiving the approval of the Saudi Industrial Development Fund (SIDF) for a SAR 287.1 million.

The approval letter was received, and the loan agreement will later be signed after obtaining the needed approvals, the company said in a statement to the Saudi Stock Exchange (Tadawul).

Repayments will be distrusted over 10 semiannual instalments, the statement noted.