Riyadh – Decypha: Saudi Public Transportation Company (SAPTCO) has signed an agreement with the Saudi Arabian British Bank (SABB) worth SAR 46.6 million, the company announced in a statement.
The loan, which is taken against promissory notes, will be used to finance the purchase of 124 buses to expand the company’s fleet.
SAPTCO will repay the loan on a three year period through monthly installments, local media reported.
In 2016, the company had signed an agreement worth SAR 112.7 million to expand its fleet with 300 buses, Saudi Maal reported.
By Decypha Editorial Team
