Alkhorayef Water signs SAR 199 mln credit facility with Banque Saudi Fransi

28/07/2021 Argaam

Logo of Alkhorayef Water and Power Technologies

Alkhorayef Water and Power Technologies Co. signed today, July 28, a Shariah-compliant bank facility of SAR 199 million with Banque Saudi Fransi, it said in a statement to Tadawul.

 

The facility term is valid from today until July 27, 2022, and is guaranteed by a promissory note.

 

The loan will be used to finance the company’s future needs for new projects and to finance working capital when needed.

 

There are no related parties to the agreement, the statement added.

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