Yamama Cement Co. bags $426m from SNB to boost its new site at Al Kharj

Saudi-based Yamama Cement Co. has received financing of SR1.6 billion ($426 million) from the Saudi National Bank to boost the production capacity of its new site in Northern Halal, Al-Kharj.

The amount includes a long-term financing of SR800 million and short-term financing of SR300 million, the company said in a bourse statement.

The deal also includes refinancing of existing loan long-term loans amounting to SR563 million.