Riyadh – Mubasher: Alian Industry Company, a subsidiary of Al Kathiri Holding Company, has signed a Shariah-compliant bank facility agreement with Riyad Bank.

The credit facility value is SAR 18 million, with a financing period of 540 days, according to a statement by Al Kathiri to the Saudi Stock Exchange (Tadawul) on Monday.

As for the purpose for the financing, the statement noted that Alian will use the funds to accelerate and complete the process of establishing a construction technology factory in Sudair City, with the date of completion and starting production expected in the third quarter (Q3) of 2020.