Alkhorayef Water and Power Technologies, announces that its subsidiary company obtaining an Islamic Banking facilities Agreement with Al Rajhi Bank
- Date: 07-Mar-2024
- Source: Mubasher
- Sector:Technology
- Country:Saudi Arabia
Alkhorayef Water and Power Technologies, announces that its subsidiary company obtaining an Islamic Banking facilities Agreement with Al Rajhi Bank
Element List
Explanation
Introduction
Alkhorayef Water and Power Technologies announces that it has obtained and signed a Sharia-compliant bank facility agreement with Al Rajhi Bank to finance a subsidiary company, Package 6 Company for Environmental Services- a limited liability company. These facilities will be used for the project of Long-Term O&M Contracts for Sewage Treatment Plants in Riyadh city- (Package 6 Heet and Al-Hayer STP’s).
Date of obtaining the funding
2024-03-07 Corresponding to 1445-08-26
Financing entity
Al Rajhi Bank
Financing amount.
536,000,000 Saudi Riyal
Financing duration.
Valid till 28/02/2025
Guarantees offered for the financing
Promissory note
Financing objective
Financing Long-Term O&M Contracts for Sewage Treatment Plants Riyadh city- (Package 6 Heet and Al-Hayer STP’s) project
Related Parties
N/A
Alkhorayef Water and Power Technologies, announces that its subsidiary company obtaining an Islamic Banking facilities Agreement with Al Rajhi Bank