Alkhorayef Water raises credit facilities with SABB to SAR 509 mln

Logo of Alkhorayef Water and Power Technologies Co.

Alkhorayef Water and Power Technologies Co. (AWPT) increased its facilities with Saudi British Bank (SABB) by SAR 359 million, from SAR 150 million to SAR 509 million, the company said in a statement today, Sept. 28.

The loan is guaranteed by a promissory note were increased, while all other conditions remain unchanged.

AWPT received the agreement after being signed by all parties today.

On Oct. 5, 2021, the utility signed a one-year, Shariah-compliant credit facility agreement worth SAR 150 million with SABB, Argaam earlier reported.