Saudi Arabia: Yamama Cement has signed a US$443m financing agreement with Saudi National Bank (SNB). The company plans to invest the funds in its relocation of a 10,000t/day kiln line to its Northern Halal, Al Kharj, plant from the site of its former plant in Riyadh. This will help towards its aim of increasing the Northern Halal plant’s capacity to 30,000t/day by 2025. The loan consists of US$213m in long-term financing for a period of eight years, US$150m in refinancing of the long-term funding for a duration of four years and US$80m in short-term financing for one year.
Yamama Cement secures US$443m loan from Saudi National Bank
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