Al Ashghal Al Moysra renews SAR 21.4M credit facilities with Riyad Bank

Al Ashghal Al Moysra said financing aligns with its strategic expansion plan

Al Ashghal Al Moysra Co. renewed and increased its Shariah-compliant credit facilities with Riyad Bank, totaling SAR 21.38 million.

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In a statement to Tadawul, the company said the agreement has a one-year term. The guarantees include personal commitments from Chairman Subhi Al-Juwayr and CEO and Managing Director Abdulaziz Al-Juwayr.

The financing will be used to cover final letters of guarantees worth SAR 15 million and to fund SAR 6.38 million for the purchase of capital assets.

The company noted that the financing aligns with its strategic expansion plan to achieve sustainable growth and diversify its project portfolio in terms of scale, scope, and geography.

Al Ashghal Al Moysra expects the facility to have a positive impact in 2025 and 2026, the statement added.