First Milling Secures SAR 69.40M Loan from SIDF
Deal News | Jun 23, 2025 | Zawya
First Mills Company has entered into a financing agreement with the Saudi Industrial Development Fund (SIDF) worth SAR 69.40 million. The loan aims to support First Mills' capital expenditure for various upcoming projects designed to expand and enhance its operations. Set on 17 June 2025, the repayment is structured over 12 semiannual instalments starting from 15 February 2027 and concluding on 15 August 2032. The loan benefits from an irrevocable bank guarantee issued by a local bank approved by the Saudi Central Bank. As of 31 March 2025, First Mills reported a net profit of SAR 79.66 million, reflecting a 2.49% increase compared to the previous year. This financial move marks a strategic step in First Mills' growth trajectory.
Sectors
- Food and Beverage
- Industrial and Manufacturing
Geography
- Saudi Arabia – First Mills Company and the Saudi Industrial Development Fund are based in Saudi Arabia, playing vital roles in the economy.
Industry
- Food and Beverage – First Mills Company operates in food production, which is central to the industry's focus.
- Industrial and Manufacturing – The financing from SIDF aims to support capital expenditure, often associated with industrial and manufacturing improvements.
Financials
- SAR 69.40 million – The financing facility agreement amount secured by First Mills from SIDF.
- SAR 79.66 million – First Mills' reported net profit as of 31 March 2025, showing a 2.49% increase.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| First Mills Company | Target | Company | A company focused on milling operations in Saudi Arabia. |
| Saudi Industrial Development Fund (SIDF) | Lender | Government | A Saudi government fund providing financial support for industrial projects. |
| Saudi Central Bank (SAMA) | Regulator | Government | The authority regulating the banking system in Saudi Arabia. |