State utility Saudi Electricity Company (SEC) is seeking further cash to fund its large-scale and continuing capacity expansion program. The company’s board has sanctioned a proposal to negotiate for a revolving credit facility and seek other loans.
SEC informed the Saudi stock exchange (Tadawul) that the revolving credit facility will be in two forms: a loan in Saudi riyals that “does not exceed SR 3bn” ($800mn) and another in US dollars that “does not exceed $1.5bn.” (CONTINUED - 306 WORDS)
