AWPT subsidiary secures SAR 536M credit facilities from Al Rajhi Bank

Alkhorayef Water and Power Technologies Co. (AWPT) obtained SAR 536 million worth of Shariah-compliant credit facilities from Al Rajhi Bank for one of its subsidiaries, Package 6 Company for Environmental Services — a limited liability company, according to a statement to Tadawul today, March 7.

The five-year facilities are aimed at financing the long-term operation and maintenance of sewage treatment plants in Riyadh (Package 6 Heet and Al-Hayer).

The facilities, ending on Feb. 28, 2025, were provided in exchange for promissory notes.

There are no related parties to the deal, AWPT added.