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Saudi Electricity Company announced the signing of a local financing agreement with several banks worth 15.2 billion riyals.
Al Rajhi Banking Investment, the National Commercial Bank, the Saudi Arabian Bank, the Saudi Bank Fransi, the Samba Financial Group and the Arab National Bank are among the companies to sign, said Tadawul in a statement.
The company pointed out that the funding period could go up to 7 years and that there was no guarantee, pointing out that the purpose of the funding was to fund the objectives of the public company, including capital expenditures.
The company has confirmed that there are no related parties in the agreement and will announce any significant developments as it occurs.
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