Saudi Arabia's Basic Chemical Industries (BCI) said its subsidiary, Chemicals Marketing and Distribution Company Limited, has secured an industrial loan of 376 million Saudi riyals ($100.23 million) from the Saudi Industrial Development Fund (SIDF) to finance its project in Jubail Industrial City.

The financing will have a repayment period of 87 months, which will commence on October 8, 2025, the company said in a statement to the Saudi stock exchange.

The new cost-effective financing will allow repayment of 90% of an existing commercial loan, as well as boost profitability and cash flows, the statement added.

(Editing by Brinda Darasha; brinda.darasha@lseg.com)