(MENAFN) A consortium of electricity companies led by Saudi Arabia's Acwa Power has completed refinancing of more than USD1.825 billion in debt for its Rabigh 1 power project.
In detail, the consortium, which includes state-run Saudi Electricity Company (SEC) and Korea Electric Power Corporation (KEPCO), runs the 1,240 MW fuel oil-fired plant on the western coast of Saudi.
Moreover, the refinancing consists of a conventional international tranche and two Islamic riyal-denominated parts, Saudi consortium said on a statement.
A dollar-denominated portion worth more than USD300 million was given by a group of Korean insurance companies, including Samsung Life and Dongbu Insurance/Hyundai Asset Management.
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.