Alkhorayef Water secures SAR 100 mln credit facilities from SAIB

02/11/2022 Argaam
Logo of Alkhorayef Water and Power Technologies Co. (AWPT)

Logo of Alkhorayef Water and Power Technologies Co. (AWPT)

Alkhorayef Water and Power Technologies Co. signed today, Nov. 2, a SAR 100 million Sharia-compliant credit facilities agreement with Saudi Investment Bank (SAIB), the company said in a statement on Tadawul. 

 

The agreement is valid until July 31, 2023, the statement said, adding that a promissory note covers the amount. 

 

The facilities are intended to be used as general facilities to issue all types of letters of guarantee, letters of credit and short-term loan, the company noted, indicating that no related parties are included in the deal. 

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