Saudi: Al Jouf Cement signs financing agreement with Alinma Bank

Al Jouf Cement has signed a Murabaha financing agreement with Alinma Bank at a total value of SAR350m.

The financing period extends from 15 December 2015 until 14 December 2022, with a grace period of two years, the cement producer said in a bourse statement.

The facility, secured against a promissory note, is aimed at rolling over the company's outstanding loans and financing some of the current projects.

Al Jouf's second production line will help repay this loan, the statement added