SISCO’s Kindasa gets SAR 24 mln loan from SABB

19/12/2016 Argaam

Saudi Industrial Service Co. (SISCO)’s subsidiary, Kindasa Water Services, agreed on Monday with the Saudi British Bank (SABB) to get SAR 24 million 5-year loan, the company said in a statement.

 

The financial impact will be reflected in 2018, it added.

 

The loan will be used to build a SAR 30.5 million water desalination plant in Rabigh, which will have a capacity of 5,000 square meters a day and expected to be completed in the second quarter of 2018.

 

The remaining cost will be financed from Kindasa’s own resources.

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