The Public Investment Fund-backed ROSHN Group has secured a 9 billion Saudi riyal ($2.4 billion) syndicated credit facility to fund its expansion plans.

An unsecured revolving credit facility has been provided by a consortium of Saudi-listed banks, including Saudi National Bank, Arab National Bank, Riyad Bank, Bank Al Bilad, Alinma Bank, and Saudi Awwal Bank, the developer said in a post on the social messaging platform X.

The funds will support the company’s growth and expansion plans, said group CFO Avinash Pangarkar.

Last month, ROSHN and Riyadh Infrastructure Projects Center (RIPC) signed a memorandum of understanding to jointly plan for infrastructure projects in and around the former’s key destinations.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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