Bid & Tender
SEC Receives $1.5bn Finance from China’s ICBC

Date : Jul 01, 2016

Saudi Electricity Co (SEC) has obtained $1.5bn in financing from Industrial and Commercial Bank of China (ICBC), SEC said on Thursday.

 

The five-year “direct commercial funding agreement” was signed on 29 June and will be used to fund part of SEC’s capital projects.

 

The funding was extended without SEC providing any guarantees, the company said without elaborating.