Energy
Posted By OrePulse
Published: 04 Feb, 2025 08:23
Saudi’s Alkhorayef upsizes credit facility to $167.8mln
Saudi Arabia’s Alkhorayef Water and Power Technologies has increased its existing financing deal with Alinma Bank by SAR 380 million ($101.2 million).
The update brings the total value of the Shariah-compliant credit facilities to SAR 630 million, the firm said on Monday.
The company had previously obtained SAR 250 million from the lender in December 2021 to finance government and semi-government contracts.
Last November, the company bagged a contract worth SAR 58.8 million for the operation and maintenance of a water treatment plant in Saudi Arabia.
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