The Electricity co. secures $ 366m loan from international banks

18/12/2013 Tadawul

The Saudi electricity company announced today on tadawul the signing of $ 366 m credit agreement representing the first tranch of $ 2000m credit with the following international bank:

JBIC  -

Bank of Tokyo mitsubishi -

 Mizuho Bank-

 

The agreement has a term of 12 years and a grace period of 3 years starting from 18/12/2013.

 

The proceeds to be used to build South Jeddah power plant with a total capacity of 2640 MW.

 

 The loan is covered by a bank guarantee from the Japaneese  banks (JBIC and NEXI). 

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