RIYADH (Zawya Dow Jones)--Saudi Arabia's Mohammad Al Mojil Group, or MMG, Wednesday said it signed a five year-loan with National Commercial Bank, or NCB, worth 380 million Saudi riyals ($101.3 million) to finance plans to buy new vessels.
MMG, an oil and gas contracting firm, signed an agreement with an unspecified Asian firm to buy two work vessels and a crew vessel, the company said in a statement posted on the Saudi bourse website.
The vessels are expected to be delivered in the second quarter of next year, it added.
-By Summer Said, Dow Jones Newswires; +966-546-842373; summer.said@dowjones.com
Copyright (c) 2010 Dow Jones & Co.
(END) Dow Jones Newswires
December 01, 2010 04:38 ET (09:38 GMT)
DJ Codes: country:[R/ARA, R/ML, R/SA] subject:[N/ZDJ, N/CAC, N/CNW, N/DJFX, N/DJWI, N/FCTV, N/FNC, N/GEN, N/TSP] industry:[I/BNK, I/CON, I/MAR, I/XDJGI] market:[M/FCL, M/IDU, M/NND] company:[1310.SA, SA122H30KF15]
