Riyadh – Mubasher: Saudi Electricity Co. (SEC) announced that its executive committee approved raising the ceiling of reserve credit facilities from $1.5 billion to $2.5 billion.
This step mainly aims to fund some of SEC’s capital projects that will be revealed later, the company said.
The company allowed in August holding negotiations on raising credit facilities in two tranches: riyal-denominated reserve credit facilities worth SAR3 billion maximum and dollar-denominated reserve credit facilities worth $1.5 billion for a duration from three to five years.
