Alkhorayef Water signs SAR 250 mln bank facilities agreement with Alinma Bank

22/12/2021 Argaam

Logo of Alkhorayef Water and Power Technologies Co.

Alkhorayef Water and Power Technologies Co. (AWPT) signed a SAR 250 million Shariah-compliant credit facility agreement with Alinma Bank.

 

The financing duration is valid until July 31, 2022, and is covered by a promissory note as a guarantee, the company said in a bourse filing.

 

The funding will be a general facility to finance government and semi-government contracts and issue contractual guarantees (bid bonds, performance, advance payment) and facilities to finance invoice financing and new projects.

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