Riyadh – Mubasher: Zahrat Al Waha for Trading Co said that the Sharia-compliant credit facilities agreement with the Saudi British Bank (SABB) has been renewed on 8 October 2019 corresponding to 9/2/1441 H.
The contract value will increase to SAR 50 million as the financing limit from SAR 25 million, according to a disclosure to the Saudi Stock Exchange (Tadawul) on Tuesday.
Zahrat Al Waha will use a value of SAR 40 million from the funding to buy and import raw materials to finance the working capital for a maximum period of six months.
Meanwhile, a value of SAR 10 million will be used to finance the capital expansions through the purchase of machines and equipment for 48 months.
