Al-Jouf Cement Company announces the repayment of Bank AlJazira’s loan guaranteed by its share in Eastern Industrial Co. (a company under liquidation)
| Element List | Explanation |
|---|---|
| Announcement Detail | Al-Jouf Cement Company announces the completion of the payment of all installments due from the Bank AlJazira loan (long-term) and all follow-up and supervision costs related to the loan, amounting to (41,662,165) Forty-one million six hundred and sixty-two thousand one hundred and sixty-five Saudi Riyals regarding Al-Jouf Cement Company's guarantee to Eastern Industrial Co. in the amount of its share in the capital, which amounts to 12%.
This will improve the company's financial solvency and strengthen its financial position. This payment will also reduce financing costs, which will positively affect the company's financial results starting in the second half of 2024 |
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