13
Mar
12:25
Saudi's Ajeej Steel renews credit facility
Riyadh-based Ajeej Steel, a National Building and Marketing (NBM) Co subsidiary, has renewed a SAR 127 million ($33.8m) Sharia-compliant credit facility agreement with Al Rajhi Bank. The company will use the facility to meet its working capital requirements, notes Kallanish.
Without third party involvement, the facility, which will run for 4-48 months depending on the type of drawdown, is backed by a comprehensive set of security measures. These include the bank&#…
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Very good overview of the weekly steel market.
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