Marafiq secures $666m financing facility

03 August 2010

Saudi private power and water utility firm for Jubail and Yanbu, Marafiq has signed agreements for a SR2.5bn ($666m), 15-year Murabaha-based financing facility with a group of banks operating in the kingdom, Arab News has reported. Proceeds of the facility would be used to finance Marafiq's ongoing capital expenditure programme and other operational requirements, Thamer Al-Sharhan, Marafiq president and CEO said.

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