GASCO secures SAR 203 mln credit from SIDF

27/09/2018 Argaam

 

The National Gas and Industrialization Co. (GASCO) has signed a SAR 203 million credit agreement with the Saudi Industrial Development Fund.

 

The deal was signed on Thursday, Sept. 27, 2018, with a credit period of six years, GASCO said in a bourse statement.

 

The purpose of the loan is to finance the establishment of lines and handling areas for the packaging and distribution of gas with a production capacity of 750,000 tons.

 

The amount is covered by seven plots of land and Dammam Station as well as a promissory note from the company.

 

No related parties are involved in the deal, the statement said.

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