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Saudi-based Yamama Cement Company said it has secured financing worth SR1.6 billion ($426 million) from the Saudi National Bank.
The amount includes a long-term financing of SR800 million and short-term financing of SR300 million, said Yamama Cement in its filing to saudi bourse Tadawul.
The deal also includes refinancing of existing long-term loans amounting to SR563 million.
The funding is mainly being obtained to help boost the production capacity of Yamama's new plant in Al Kharj region of the kingdom, it added.-TradeArabia News Service