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