Eastern Province Cement Co. Announces Obtaining a credit facilities from the Banque Saudi Fransi, compatible with the Islamic Sharia

Eastern Province Cement Co. Announces Obtaining a credit facilities from the Banque Saudi Fransi, compatible with the Islamic Sharia

Element List

Explanation

Introduction

Eastern Province Cement Company announces that it has obtained credit facilities compatible with the Islamic Sharia at competitive prices in the amount of one billion Saudi Riyals from Banque Saudi Fransi in order to finance the project of establishing a new production line in the company’s plant site with a production capacity of 10,000 tons/day to be replaced by some current production lines in addition to finance the company's working capital.

Date of obtaining the funding

2024-03-20 Corresponding to 1445-09-10

Financing entity

Banque Saudi Fransi

Financing amount.

Saudi Riyals One Billion

Financing duration.

Ten years

Guarantees offered for the financing

Promissory Note

Financing objective

Opening documentary credits for the project of establishing a new production line in the company’s plant site with a production capacity of 10,000 tons/day to replace some of the current production lines, in addition to finance the company’s working capital.

Related Parties

None

Additional Information

These credit facilities were obtained on competitive teams and prices.

Attached Documents

  

Eastern Province Cement Co. Announces Obtaining a credit facilities from the