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DUBAI, Jan 2 (Reuters) - Saudi Arabia's Yamama Cement Company
3020.SE
has secured 1 billion riyals ($266.6 million) in Islamic financing to partially fund the building of a new factory, it said on Monday.
The three-year financing includes 750 million riyals from National Commercial Bank
1180.SE
and 250 million riyals from Samba Financial Group
1090.SE
, it said in the statement.
The company signed a 4.2 billion riyal contract with Germany's ThyssenKrupp Industrial Solutions
TKAG.DE
in November 2015 to build the plant, it said at the time. It will be located 100 kilometres outside the Saudi capital Riyadh, with daily production capacity of 20,000 tonnes of clinker.
($1 = 3.7506 riyals)
(Reporting By Sami Aboudi; Writing by Tom Arnold; Editing by Louise Heavens) ((Tom.Arnold@thomsonreuters.com; +97144536265; Reuters Messaging: tom.arnold.thomsonreuters.com@reuters.net))
The three-year financing includes 750 million riyals from National Commercial Bank
The company signed a 4.2 billion riyal contract with Germany's ThyssenKrupp Industrial Solutions
($1 = 3.7506 riyals)
(Reporting By Sami Aboudi; Writing by Tom Arnold; Editing by Louise Heavens) ((Tom.Arnold@thomsonreuters.com; +97144536265; Reuters Messaging: tom.arnold.thomsonreuters.com@reuters.net))
