DUBAI - Saudi Electricity Co. said on Tuesday it had secured a $3 billion syndicated loan to finance expansion plans and capital investments.

Dubai Islamic Bank, Kuwait Finance House, Emirati-lender Mashreqbank and Saudi National Bank, financed the transaction.

Saudi Electricity said it would sign the U.S. dollar denominated facility during the Future Investment Initiate conference in Riyadh, Saudi Arabia this week.

The duration of the financing is five years, it said.

(Writing by Alexander Cornwell; Editing by Jacqueline Wong)