(MENAFN) State-owned power utility Saudi Electricity Co. (SEC) has recently signed an interest-free loan worth USD13.17 billion with the Saudi Ministry of Finance, according to Arab News.
Riyadh's bourse said that the loan has a lifespan of 15 years but there is a grace period of ten years before repayments begin.
SEC has been granted a soft loan in a royal decree in March to be able to fund power generation projects.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.