Alkhorayef Water inks $68.53mln financing agreement with Riyad Bank

The company has offered promissory notes to guarantee the financing

Staff Writer, Mubasher

June 10, 2022

PHOTO

Riyadh – Alkhorayef Water and Power Technologies Company has signed an agreement to obtain Sharia-compliant financing worth SAR 256.96 million from Riyad Bank.

Valid until 30 December 2024, these facilities will be used to finance the company’s new project, aiming to improve water networks in Al-Khobar city, according to a bourse filing on Thursday.

The company has offered promissory notes to guarantee the financing.

It is noteworthy to mention that Alkhorayef has been awarded four contracts worth SAR 1.85 billion to enhance water services in Saudi Arabia.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

ZAWYA NEWSLETTERS

RELATED ARTICLES

ZAWYA NEWSLETTERS

LATEST VIDEO