Najran Cement prepays SAR 45 mln worth of loan installments

Najran Cement Co. has pre-settled three loan installments with Banque Saudi Fransi, worth SAR 45 million, it said in a bourse filing on Monday.

The three instalment of the facility, provided to fund the Waste Heat Recovery project, were paid on Sept.30 using own resources, it added.

Following the pre-settlement, the outstanding balance on the facility stands at SAR 60 million. The next due instalment is now due on Sept.30 2020.

The transaction is in line with the firm’s strategy of improving its financial efficiency, the statement noted.