The Saudi Steel Pipes company announces that it signed (on March 25, 2013) a credit facility agreement with the Saudi Industrial Development Fund valued SAR 26.650 million to finance the extensions of its plant at Dammam Second Industrial City.
The loan will be paid back in 12 varied installments, twice a year, as scheduled, and is collateralized by the project’s fixed assets. Loan tenure is eight years starting 2015.
The extension aim at raising the plant’s capacity and serving a wider client base.
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