Founded to assist the regional industrial sector, the Saudi Industrial Development Company (SIDQ) is one of the top businesses in the Kingdom of Saudi Arabia. SIDQ has been a major player since 1993 and is listed on the Saudi Stock Exchange (Tadawul).
SIDQ’s Establishment & History
On December 14, 1992, a ministerial decision created the Saudi Industrial Development Company (SIDC). It was established to assist the industrial sector in producing plastic sanitary ware, including toilets, bathtubs, and washbasins, as well as foam materials and numerous other goods that economic research had indicated would be profitable in the Saudi market.
Since becoming public on the stock exchange in February 1993, the business has developed into one that actively supports the community’s economy.
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The Company’s Diversified Investments
The company has numerous factories and subsidiaries and has a wide range of investments. The “Sidq Ceramics” facility in Yanbu Industrial City is its most notable asset, along with a collection of businesses in several industries. Among the businesses it invests in directly and indirectly are:
Sidq Commercial Investment Company Limited: with a capital of SAR 10 million.
Sidq Investment Projects Company Limited: with a capital of SAR 1 million.
Sleep High Company: specialising in marketing sleep products, with a capital of SAR 100 million.
Sleep High Egypt Company: specialising in manufacturing spring and foam mattresses, with a capital of EGP 50 million.
Ibn Rushd Company: operating in the synthetic fibre industry, in which Sidq holds a SAR 31.2 million stake.
Warehouses and Support Services Company, in which Sidq owns a SAR 5 million share.
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Company Activities
The Saudi Industrial Development Company (SIDQ) works in an assortment of commercial, industrial, and service industries. These pursuits consist of:
Advanced Technology Industries: such as the manufacture of chemical, rubber, and plastic products.
Furniture Manufacturing: including home and office furniture.
Mining: extracting raw materials from the earth.
Recycling & Waste Treatment: reusing materials and converting them into new products.
Commercial Activities: such as import, export, and e-commerce.
Engineering Services: such as construction, demolition, renovation, and maintenance.
Real Estate Sector: through land ownership and real estate development.
Service Activities: such as security, transportation, and hospitality services.
SIDQ is still working to solidify its standing as a pillar of the Saudi industrial sector. Its growth and supremacy in the Saudi market are a result of its varied activities.
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