Saudi Electricity Co. signs USD366 m loan agreement| MENAFN.COM

Wednesday, 10 August 2022 08:58 GMT

Saudi Electricity Co. signs USD366 m loan agreement

(MENAFN) Saudi Electricity Co. (SEC) has announced the signing of a USD366 million loan deal with three major Japanese banks to finance the construction of a 2,650 megawatt power plant in Jeddah, according to Arab News. The new project is part of a wider project, the Jeddah South project, worth USD2 billion. The company will sign USD1.634 billion worth agreement with South Korea later this week to complete a facility in the Kingdom.

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