Riyadh-Mubasher: Al Abdullatif Industrial Investment said that Al Reef Sugar Refinery Co. has signed a long-term loan agreement with the Saudi Industrial development Fund to finance the project of Al Reef company.
The credit facility is worth SAR 840 million, with eight years duration period starting from the beginning of the repayment in 1441 Hijri year, according to a bourse statement.
The loan accounts for 75% of the overall value of the project which amounts to SAR 1.12 billion.
Al Abdullatif has participated in Al Reef project by SAR 45 million which forms 15% of Al Reef’s SAR 300 million capital.
