NO. 6


Saudi Arabia

NIC Seeks Bridging Finance

Saudi Arabia's National Industrialization Company (NIC), which is currentlyin need of liquidity to meet its financial obligations this year and over thenext three years, will have to seek a bridging loan of some SR10-15mn ($2.7-4mn) from commercial banks, according to NIC's Chairman and Executive President,Dr. Mahsun Jalal. The need for liquidity has arisen because all of the company'spaid-up capital of SR300mn ($80mn) is...