Riyadh – Mubasher: Rabigh Refining and Petrochemical (Petro Rabigh) has received from Rabigh Arabian Water and Electricity Company (RAWEC) SAR 2.835 billion ($756 million) as early repayment of a loan.

Petro Rabigh has provided the financing facilities to RAWEC to build its plants to generate water, steam, and electricity, according to a bourse filing on Sunday.

Petro Rabigh will benefit from the early repayment in decreasing its overall debt and enhancing its debt-to-equity ratio.

It is noteworthy to mention that during the third quarter (Q3) of 2021, Petro Rabigh achieved a net profit after Zakat and tax worth SAR 221 million, against losses of SAR 610 million in Q3-20.