Riyadh - Mubasher: Yamama Cement Company announced on Monday that it has signed two sharia-compliant finance agreements with a total value of SAR 1 billion.
According to the company’s statement to the Saudi Stock Exchange (Tadawul), Yamama signed a SAR 750 million finance agreement with National Commercial Bank, and another agreement for SAR 250 million with Samba Financial Group.
The three-year finance facility agreement begins on the date of receving the loan and ends by January 2020, when repayment will be due, according to the statement.
The agreements aim at providing the necessary funds to establish the company’s new factory.
