MESC inks $13.33mln deal with Saudi finance ministry

The financing period extends over 270 days

  

Riyadh –  The Middle East Specialised Cables Company (MESC) has signed a financing contract worth SAR 50 million with the Saudi Ministry of Finance (MoF) to finance the company’s working capital.

The financing period extends over 270 days, according to a bourse statement on Monday.

Moreover, the guarantees provided by MESC to receive the aforementioned financing is a waiver of contract dues that will be funded through the deal.

Source: Mubasher

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