Alkhorayef Water increases Riyad Bank facilities by SAR 94M

Logo of Alkhorayef Water and Power Technologies Co.

Alkhorayef Water and Power Technologies Co. increased its Shariah-compliant facilities agreement with Riyad Bank by SAR 94 million, especially for bank guarantees. 

The agreement was signed today, Jan. 2, without any change to the deal’s terms, the company said in a statement to Tadawul. 

The facility will fund the operation and maintenance of the sewage treatment plant (Package 5) – Manfouha, Riyadh. 

According to data compiled by Argaam, Alkhorayef Water signed, on Dec. 25, 2023, a Shariah-compliant credit facility agreement worth SAR 450 million with Riyad Bank.