Riyadh-Mubasher: Methanol Chemical Co. (Chemanol) has obtained the approval of the Saudi Industrial Development Fund (SIDF) to restructure the remaining installments of the loan amounting to SAR 385 million into nine installments, the company said in a bourse statement.
Accordingly, the first payment will be due on 15/04/1438H, and the last payment will be on 15/02/1442H.
The amounts of the payments range between SAR 25 million to SAR 50 million.
The total loan worth SAR 703 million was raised in 2008, of which SAR 318 million has been paid.
CEO Khalid Al Rabiah said the loan rescheduling aims to support the company's financial position in line with its cash flows.
