Riyadh – Mubasher: Saudi Electricity Company (SEC) on Sunday announced signing a loan agreement worth $900 million (SAR 3.38 billion) to finance its project to build Al-Shuqaiq power plant.
The 13.25-year loan is guaranteed by the Export-Import Bank of Korea (KEXIM) and other international lenders including Tokyo-Mitsubishi Bank, Deutsche Bank and Standard Chartered Bank, the Saudi firm said in a bourse filing.
The utility firm noted that this is the first loan to be received under the framework agreement signed with KEXIM in December 2015.
