Riyadh – Mubasher: Saudi Arabian Mining Company (Maaden) on Monday announced that its subsidiary Maaden Aluminum Company (MAC) has signed an amendment agreement with the Public Investment Fund of Saudi Arabia (PIF) to adjust the terms of its existing loan.
The SAR 4.275 billion ($1.140 billion) loan will be paid for a 14-year period on 18 semi-annual scheduled instalments starting from 31 March 2023, Maaden highlighted in a statement to the Saudi Stock Exchange (Tadawul).
It is worth mentioning that Saudi Arabia’s Maaden and the US’ Alcoa Corporation own 74.9% and 25.1% of MAC, respectively.
