Meyar secures SAR 2.6M loan

29/11/2023 Argaam
Logo ofMeyar Co.

Logo of Meyar Co.

Meyar Co. obtained a five-year loan worth EUR 622,920 (SAR 2.55 million) from the Italian Export Credit Agency “SACE-Rome”, effective as of Nov. 28.

 

In a statement to Tadawul, Meyar pointed out that the step was taken with an aim to purchase new production lines from Italy’s SIMEM S.P.A.

 

The loan is guaranteed by promissory notes in total amount, the statement added, noting that there are no related parties to the deal.

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