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- Saudi firms announce 2024 financial results amid Eid trading break
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21/01/2015 15:04 AST
Saudi Arabia's Sahara Petrochemical Company said its subsidiary Al Waha Petrochemicals had secured SR1.96 billion ($522 million) from two local lenders to refinance an existing Islamic loan.
The previous loan amount wasn't given but the firm said the deal had been signed in 2006 with a number of commercial lenders and two government funds -- the Public Investment Fund and the Saudi Industrial Development Fund -- during the project phase.
The new loan had more favourable pricing and conditions than the existing deal. The facility was provided by Saudi British Bank and Banque Saudi Fransi and lasts until the end of 2026, Sahara said in the statement.
The company also signed a revolving Murabaha-structured facility worth SR375 million from Saudi British Bank for one year, which can be renewed yearly to support the working capital and the company's general operations, it said.
Murabaha is a cost-plus sale arrangement which is commonly used in many parts of the Islamic world.
Reuters
27/01/2016
Sahara announces to its shareholders the developments of proceeds from the rights issue received on 23/12/2011G. Up to the end of the fourth quarter of 2015 the company has used the following amounts
Tadawul
24/12/2014
The Board of Directors of Sahara Petrochemical Co. meeting was held under the Chairmanship of H.E. Abdulaziz A. Al-Zamil Today December 24, 2014 has recommended the distribution of dividends to the s
Tadawul
18/08/2014
Saudi Arabian petrochemical producer Sahara Petrochemical Co. said a shutdown in polypropylene output at its subsidiary Al-Waha Petrochemicals may reduce profit in the third quarter by nearly SR9 mil
Arab News
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03/04/2025
Oman Cables Industry (OCI), a leading cable solutions provider in the sultanate, has announced that it has delivered solid results for yet another year with its sales turnover for 2024 soaring to RO2
Trade Arabia
03/04/2025
Agility, a supply chain services, infrastructure and innovation company based in Kuwait, has delivered solid results for FY 2024 with KD1.53 billion ($5 billion) in revenue as its operating entities
Trade Arabia
03/04/2025
AD Ports Group has achieved record-breaking results in 2024, with its revenues soaring to hit AED17.3 billion ($4.7 billion) and its ebitda (earnings before interest, taxes, depreciation and amortisa
Trade Arabia
03/04/2025
WEG, a leading electric motor, variable frequency drives and gearbox manufacturer, has announced that it will support the Abu Dhabi National Oil Company (Adnoc) set up a 300-km crude oil pipeline pro
Trade Arabia
29/03/2025
China's President Xi Jinping urged a gathering of multinational CEOs on Friday to protect global industry and supply chains, as Beijing seeks to assuage foreign firms' concerns over the Chinese econo
Reuters
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