The Saudi electricity company announced today on tadawul the signing of $ 366 m credit agreement representing the first tranch of $ 2000m credit with the following international bank:
JBIC -
Bank of Tokyo mitsubishi -
Mizuho Bank-
The agreement has a term of 12 years and a grace period of 3 years starting from 18/12/2013.
The proceeds to be used to build South Jeddah power plant with a total capacity of 2640 MW.
The loan is covered by a bank guarantee from the Japaneese banks (JBIC and NEXI).
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