‎“Al Khorayef” signs a facilities agreement with “Riyad Bank” ‎worth 450 million riyals

Al Khorayef Water and Energy Technology Company announced that it had signed and obtained a banking facilities agreement “compatible with the provisions of Islamic Sharia” with Riyad Bank amounting to 450 million riyals.

The company said that these facilities will be used to finance a project to operate and maintain sewage treatment plants (Package 5) in Manfuha, “Riyadh City.”

According to the statement published on “Tadawul”, the guarantees provided in exchange for the financing will be a promissory note, and the financing period ends on 09/11/1453 AH.