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Arabian Cement, SABB ink SAR400m Murabaha deal

Arabian Cement, SABB ink SAR400m Murabaha deal
Photo Credit: Arabianeye-Reuters
SAB
1060
4.63% 35.00 1.55
ACC
3010
1.12% 31.50 0.35

Arabian Cement Co. has signed a SAR 400 million Murabaha financing agreement with Saudi British Bank (SABB).

The five-year facility will be repaid in eight equal installments over four years, with an allowance for the first year.

The company said, in a filing posted on Tadawul website, it will use the facility in partially financing the first phase in its expansion project that includes cement mills and power link-up.

Photo Credit: Arabianeye-Reuters