Riyadh-Mubasher: Al Jouf Cement has signed on Tuesday a Murabaha financing agreement with Alinma Bank at a total value of SAR 350 million.
The financing period extends from 15 December 2015 until 14 December 2022, with a grace period of two years, the cement producer said in a bourse statement.
The facility, secured against a promissory note, is aimed at rolling over the company's outstanding loans and financing some of the current projects.
The second production line will help repay this loan, the statement added.
