Al Jouf Cement secures SAR 150M facilities from Al Rajhi Bank

20/08/2024 Argaam
One of Al Jouf Cement's factories

One of Al Jouf Cement's factories

Al Jouf Cement Co. obtained Shariah-compliant banking facilities from Al Rajhi Bank worth SAR 150 million.

 

In a statement to Tadawul, the cement producer said that the financing period is eight years including a one-year grace period. The company provided a promissory note and mortgaged a part of its assets for the financing.

 

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The credit will be used to repay part of an existing financing and support the company’s operational and financial operations during the coming period, the statement added.

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