SAIC Renews Credit Facilities with Al Rajhi Capital for SAR 100 Million

 Saudi Advanced Industries Co. (SAIC) announced on Sunday the renewal of a credit facility compatible with the provisions of Islamic Sharia with Al Rajhi Capital, amounting to SAR 100 million. The purpose of this facility is to support the company’s investment expansion.

The company explained that the financing duration is for one year, secured by mortgaging a portion of the investment portfolio assets equivalent to the value of the credit facilities.

According to the statement published on Tadawul, the financing aims to cover the expansion of the company’s investments.