DUBAI Jan 2 Saudi Arabia's Yamama Cement
Company has secured 1 billion riyals ($266.6 million)
in Islamic financing to partially fund the building of a new
factory, it said on Monday.
The three-year financing includes 750 million riyals from
National Commercial Bank and 250 million riyals from
Samba Financial Group, it said in the statement.
The company signed a 4.2 billion riyal contract with
Germany's ThyssenKrupp Industrial Solutions in
November 2015 to build the plant, it said at the time. It will
be located 100 kilometres outside the Saudi capital Riyadh, with
daily production capacity of 20,000 tonnes of clinker.
($1 = 3.7506 riyals)
(Reporting By Sami Aboudi; Writing by Tom Arnold; Editing by