Alkhorayef Water secures SAR 450M credit facilities from Riyad Bank

25/12/2023 Argaam

Alkhorayef Water secures SAR 450M credit facilities from Riyad Bank

Logo of Alkhorayef Water and Power Technologies Co.

Alkhorayef Water and Power Technologies Co. (AWPT) signed a Shariah-compliant credit facility agreement worth SAR 450 million with Riyad Bank.

 

The loan was secured today, Dec. 25, the company said in a Tadawul statement, adding that the agreement is valid until Dec. 25, 2031.

 

The facilities are aimed at financing the operation and maintenance of sewage treatment plants (Package 5) in Manfouha, Riyadh.

 

The credit is fully secured by a promissory note, AWPT said, noting that there are no related parties to the deal.

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