MARAFIQ early repays SAR 500 mln of outstanding loans

A water desalination plant of MARAFIQ

Power and Water Utility Company for Jubail and Yanbu (MARAFIQ) announced the early repayment of a part of its outstanding loans amounting to SAR 500 million on June 29, 2023, according to a filing on Tadawul.  

The move aims to improve financial efficiency, reduce financing costs, and make optimal use of the cash available with the company. 

MARAFIQ indicated that the repayment will contribute to reducing financing costs, which will be reflected positively on H2 2023 financials.  

The firm emphasized that its strong financial position and cash flow enhanced its ability to benefit from the available opportunities and cut the financing costs of loans. 

Moreover, the company will continue adopting its fixed mythology towards its suppliers and maintain future cash dividends for shareholders.