Sama Healthy Water Factory, a Tadawul-listed company, has obtained a long-term loan worth approximately EUR 8.2 million ($8.67 million) from German lender Bayerische Landesbank (BayernLB) to fund industrial expansion.

The bank financing, equivalent to 85% of the total purchase amount, will be paid directly to Kronz AG.

The company has issued a promissory note for the full value of the financing. As part of the deal, Sama has seven years to repay the debt.

The fresh capital will be used to establish two new production lines for water bottles of various sizes, said the firm on Thursday.

Sama is purchasing new equipment from Kronz AG, a German manufacturer of packaging and bottling machinery, as part of plans to modernise and boost production capacity.

(Writing by Cleofe Maceda; editing by Brinda Darasha)