Saudi Electricity Company
Saudi Electricity Co will secure a loan of up to $1 billion to partly finance building a power plant, the utility said on the stock exchange on Tuesday.
Saudi Electricity Company (SEC) has placed an order for six more gas turbine packages from GE for its existing power plants in Jizan and Tabouk
The facility has a lifespan of three years and was provided by seven international banks to provide back up credit facility to SEC
The riyal tranche would have a three year tenor and was signed with local lenders National Commercial Bank and Samba Financial Group
Saudi utility sees deficit more than double in the three months to 31 March.