Riyadh – Mubasher: Al Kathiri Holding Company has announced that its subsidiary, Alian Industrial Company, secured SAR 23.2 million credit facility from Saudi Industrial Development Fund.

The loan will be used to finance the building of the factory of construction technology plant in Sudair city, according to a bourse statement released on Wednesday. The loan will be repaid in 12 semi-annual instalments over seven years.

The construction of the factory is expected to begin in the fourth quarter of 2019 and the production will start in the third quarter of 2020.

Situated on 12,308 square meters, the new factory’s capacity is planned to reach 1.3 million square metres per day at the rate of 1000 housing units annually.