Riyadh - Mubasher: Emmdad Logistic Services Company, a subsidiary of Saudi Industrial Development Company (SIDC), has signed a Sharia-compliant financing agreement worth SAR 10 million with the Social Development Bank.

The five-year financing agreement is intended to support capital expansions, according to a bourse disclosure.

Backed by a promissory note covering the facility’s value, the deal was signed on 15 May 2025 and obtained on 18 June.

The loan was also secured by a payment and performance guarantee from Emmdad’s partners, namely Global Marketing Company for Sleeping System Limited (Sleep High), as well as Road Storm Trading and Contracting Company.

In the first three months (3M) of 2025, SIDC suffered 680.16% higher net losses at SAR 9.44 million, compared with SAR 1.21 million in the same period a year earlier.