Logo of Alkhorayef Water and Power Technologies Co. (AWPT)
Alkhorayef Water and Power Technologies Co. signed today, Nov. 2, a SAR 100 million Sharia-compliant credit facilities agreement with Saudi Investment Bank (SAIB), the company said in a statement on Tadawul.
The agreement is valid until July 31, 2023, the statement said, adding that a promissory note covers the amount.
The facilities are intended to be used as general facilities to issue all types of letters of guarantee, letters of credit and short-term loan, the company noted, indicating that no related parties are included in the deal.
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