Watani Steel renews bank facility agreement with Alinma Bank at SAR 25 million

Watani Iron and Steel Company announced the renewal of a bank facility agreement (compliant with the provisions of Islamic Sharia) with Alinma Bank at an amount of SAR 25 million.

The company stated that the purpose of the facility is to finance the working capital of the company, secured by a promissory note with the value of the facilities in Favor of the bank.

The short-term credit facility agreement was renewed to finance working capital with the same value of SAR 25 million. Signatures and procedures were completed by the end of 11.10.2023