ANNOUNCED AS TEMPORARYNo
On 30 May 2016, according to the Saudi Gazette, the Saudi power and utility company Marafiq signed a loan agreement with the Saudi Industrial Development Fund worth 1.56 billion SAR (ca. 416 million USD). The funds shall be used for the expansion of an industrial water plant in Jubail and of a power plant in Yanbu.
The Saudi Industrial Development Fund
The Saudi Industrial Development Fund (SIDF) was established in 1974 to provide financing and support for Saudi Arabia's private industry through medium- and long-term loans. The funds are meant to upgrade, expand and create new branches of the country's industry. Since its establishment, the SIDF has provided until the end of 2014 nearly 118 billion SAR (ca. 31.5 billion USD) of loans, with 45.4 billion SAR going to the chemical sector and 20.1 billion SAR to the manufacture of consumer products (cf. 2014 Annual Report).
A state measure in the GTA database is assessed solely in terms of the extent to which its implementation affects the extent of discrimination against foreign commercial interests. On this metric, the state aid proposed here is discriminatory.
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