Saudi’s Al Jouf signs US$106.7m loan with Al Rajhi Bank

Saudi cement producer and trader Al Jouf Cement has signed an agreement with the country’s largest Islamic bank Al Rajhi Bank for a SAR400m (US$106.7m) loan to partially finance the construction of a second production line. The loan is to be repaid by June 2019.

At present, the company has a production capacity of 1.75Mta.