Watani Iron Steel obtains SIDF's approval to reschedule loan

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The total loan is valued at $43.73mln, of which $34.8mln were paid

Staff Writer, Mubasher

June 10, 2022

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Riyadh – Watani Iron Steel Company has received the Saudi Industrial Development Fund's (SIDF) approval to reschedule the remaining amount of the payment due on 17 May for an additional two months.

The total loan is valued at SAR 164 million, of which SAR 130.50 million were paid, according to a bourse filing on Thursday.

For financial support, Watani has rescheduled SAR 9.25 million for an additional two months to 14 July.

The company has offered a mortgage of fixed assets and a promissory note as guarantees for the rescheduled financing.

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