MESC inks SAR 50 mln financing contract with Ministry of Finance

29/06/2020 Argaam

 

Middle East Specialized Cables Co. (MESC) signed today, June 29, a financing contract with the Ministry of Finance amounting to SAR 50 million.

 

The company said in a statement on Tadawul that the financing period is 270 days, adding that its aim is to finance working capital.

 

MESC indicated that the guarantees provided to obtain the financing represented waiver of all contracts receivables that will be funded through the financing agreement.

 

There are no related parties to the contract, the statement added.

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