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
Source:
Mubasher