Southern Province Cement secures SAR 700m credit agreement

17/03/2014 Argaam

The Southern Province Cement Company announced today on tadawul singing SAR 700m Islamic credit agreement with the National Commercial Bank.

The agreement has a term of 5 years starting from March 16, 2014. The amount is payable on 3 years starting from March 16, 2016.

The credit is covered by promissory notes and is aimed to finance the building of the second production line in Bisha Cement Plant at a total cost of $ 190m (SAR 713m).

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