Saudi Cement receives funding for expansion

Saudi Cement receives funding for expansion
04 October 2013


Saudi cement producer Tabuk Cement Company yesterday signed an agreement with local Bank Albilad for Islamic financing worth SAR500m (US$133.3m)

In a statement to the bourse, the company said it will use the funds to partially finance the second phase of an expansion project, which includes the construction of a 5000tpd clinker line, and an adjacent power plant and desalination plant.

The loan is to be repaid by October 2020.

Published under Cement News