Saudi Arabia to boost fund's capital by USD1.6bn to enter new industries
Saudi Arabia plans to boost the capital of the Saudi Industrial Development Fund (SIDF) by SAR6bn (USD1.6bn) to help finance the kingdom's development of new industries on top of the SAR3bn of capital recently injected in the fund, according to the Minister of Energy Khalid Al-Falih. Industries include renewable energy, conversion, automotive, among others, he said, adding that military and pharmaceutical projects would receive support. (Reuters)
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