Displaying items by tag: Saudi National Bank

Saudi Arabia: Southern Province Cement has secured a loan worth US$373m from Saudi National Bank. The loan will cover its construction of a 5000t/day production line at its upcoming Jizan cement plant, as well as the construction of infrastructure for a second new line of the same capacity at the plant. The producer appointed China-based Sinoma International Engineering to build the plant in May 2023.

Reuters has reported that the loan has a duration of 10 years and a two-year grace period.

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.