Logo of Watani Iron Steel Co. (Watani Steel)
Watani Iron Steel Co. (Watani Steel) renewed a SAR 25 million Shariah-compliant bank facility agreement with Alinma Bank, to finance the company’s working capital.
In a statement to Tadawul, Watani Steel said the financing term is from Sept. 27, 2023, to Aug. 30, 2024.
The agreement is secured by a promissory note with the value of the facilities in favor of the bank.
There are no related parties to the agreement, the company noted.
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