Alkhorayef Water secures SAR 450M credit facilities from Riyad Bank

Alkhorayef Water and Power Technologies Co. (AWPT) signed a Shariah-compliant credit facility agreement worth SAR 450 million with Riyad Bank.

The loan was secured today, Dec. 25, the company said in a Tadawul statement, adding that the agreement is valid until Dec. 25, 2031.

The facilities are aimed at financing the operation and maintenance of sewage treatment plants (Package 5) in Manfouha, Riyadh.

The credit is fully secured by a promissory note, AWPT said, noting that there are no related parties to the deal.