AWPT subsidiary secures SAR 536M credit facilities from Al Rajhi Bank

07/03/2024 Argaam

AWPT subsidiary secures SAR 536M credit facilities from Al Rajhi Bank

Logo of Alkhorayef Water and Power Technologies Co. (AWPT)

Alkhorayef Water and Power Technologies Co. (AWPT) obtained SAR 536 million worth of Shariah-compliant credit facilities from Al Rajhi Bank for one of its subsidiaries, Package 6 Company for Environmental Services — a limited liability company, according to a statement to Tadawul today, March 7.

 

The five-year facilities are aimed at financing the long-term operation and maintenance of sewage treatment plants in Riyadh (Package 6 Heet and Al-Hayer).

 

The facilities, ending on Feb. 28, 2025, were provided in exchange for promissory notes.

 

There are no related parties to the deal, AWPT added.

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