Tasnee's unit signs SAR 50M credit facility deal with Saudi EXIM Bank

02/09/2024 ِArgaam
The signing of the agreement

The signing of the agreement

National Industrialization Co.’s (Tasnee) subsidiary AMIC Toho Titanium Metal Co. Ltd. (ATTM) and Advanced Metal Industries Cluster Co. Ltd. (AMIC) signed a SAR 50 million credit facility deal with Saudi EXIM Bank, the Saudi Press Agency reported.

 

The agreement is aimed at bankrolling ATTM’s working capital. It shall also provide financial liquidity to meet the company's export needs, which in turn contributes to boosting Saudi exports in various global markets.

 

According to Argaam's data, ATTM is 58.18% owned by Tasnee. It was established as a limited liability company in Yanbu in 2016, with a capital of SAR 450 million. Its main activity is the production of titanium sponge.

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