Alkhorayef Water ups facilities from Al Rajhi Bank to SAR 865M

Logo of Alkhorayef Water and Power Technologies Co.

Alkhorayef Water and Power Technologies Co. increased its financing credit facilities from Al Rajhi Bank by SAR 664 million to SAR 865 million.

The previous credit limit stood at SAR 200.9 million.

In a statement to Tadawul, the company said that the collateral provided for the financing was amended under a promissory note worth SAR 910.9 million. All other terms and conditions remained unchanged.

In June 2022, the company signed a three-year, Shariah-compliant financing agreement worth SAR 314.7 million with Al Rajhi Bank to be utilized in upgrading water networks in Dammam, Argaam earlier reported.