Najran Cement subsidiary secures SAR85m loan

Najran Cement’s transportation subsidiary obtained a long-term Shariah-compliant credit facility, at a value of SAR85m (US$22.7m), from Al Rajhi Bank. In a statement to Tadawul, the cement producer said that the facility will be repaid within six years in semi-annual installments, with a one year-grace period

The facility aims to finance the subsidiary’s expansion in its basic business, the company said, adding that there are no related parties involved in the transaction.