Saudi: Keir International renews nearly $18.1mln banking facilities

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The 12-month agreement will be used for project financing and issuance of bank guarantees and letters of credit, according to a bourse filing

Staff Writer, Mubasher

February 19, 2024

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Keir International Company has renewed a SAR 67.79 million Sharia-compliant banking facilities agreement with Saudi National Bank (SNB).

The 12-month agreement will be used for project financing and issuance of bank guarantees and letters of credit, according to a bourse filing.

In January, Keir International inked a SAR 130 million Sharia-compliant banking facilities agreement with Al Rajhi Bank to finance projects.

The Tadawul-listed company also signed in January a SAR 14.05 million agreement with National Grid-SA to implement high voltage underground cables 132 kilovolts (KV) network expansion in Riyadh.

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