Riyadh — Mubasher: Alkhorayef Water and Power Technologies Company announced the signing of a Sharia-compliant banking facility agreement with the Saudi Arabian branch of Qatar National Bank (QNB) that was finalized on 25 August 2026.
The credit facility is valued at SAR 250 million and is secured by a promissory note, according to a bourse filing.
The company stated that the financing is intended to support general corporate requirements, including the funding of government and quasi-government contracts.
Additionally, the facility will be utilized for the issuance of all types of letters of credit and letters of guarantee, as well as treasury products, partial tawarruq financing, and direct credit alternatives.
According to the regulatory filing, the financing period is scheduled to conclude on 30 April 2027.
Alkhorayef Water confirmed that there are no related parties involved in the transaction.
