Bid & Tender
Marafiq Signs $415mn Loan with SIDF to Develop Projects

Date : Jun 02, 2016

The Power and Water Utility Company for Jubail and Yanbu (Marafiq) has signed a loan agreement worth SR1.56 billion ($415.7 million) with the Saudi Industrial Development Fund (SIDF), a report said.


The loan will be used to develop several projects of the company in the Jubail and Yanbu industrial cities, Abdullah bin Khalifa Al Buainain, said chief executive officer of Marafiq.


The projects include industrial water schemes at the facilities of Sadara Company in Jubail and the expansion projects of Marafiq Power Plant in the Yanbu 2, according to the report.