Alkhorayef raises Banking facility agreement with Saudi ‎Investment Bank to SR200 mln

Alkhorayef Water and Power Technologies Co. announced that the value of the financing for credit facilities has been increased by an amount of 100 million riyals, bringing the amount from 100 million riyals to an amount of 200 million riyals, and the guarantee provided against the financing under a promissory note has been increased by an amount of 200 million riyals while remaining Other terms are as is, for the purpose of purchasing fixed assets.

This comes in addition to the company’s published announcement regarding obtaining a credit facility agreement compatible with the provisions of Islamic Sharia with the Saudi Investment Bank.

It is noteworthy that Al-Khorayef Company for Water and Energy Technology received the agreement after completing the signatures of all concerned parties today, Thursday, 16/04/1444 AH corresponding to 10/11/2022 AD, and accordingly it was disclosed.