Alkhorayef Water secures SAR 100 mln credit facilities from SAIB

02/11/2022 Argaam

Alkhorayef Water secures SAR 100 mln credit facilities from SAIB

Logo of Alkhorayef Water and Power Technologies Co. (AWPT)

Alkhorayef Water and Power Technologies Co. signed today, Nov. 2, a SAR 100 million Sharia-compliant credit facilities agreement with Saudi Investment Bank (SAIB), the company said in a statement on Tadawul. 

 

The agreement is valid until July 31, 2023, the statement said, adding that a promissory note covers the amount. 

 

The facilities are intended to be used as general facilities to issue all types of letters of guarantee, letters of credit and short-term loan, the company noted, indicating that no related parties are included in the deal. 

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