Qomel renews SAR 52M credit facility with SNB

Qomel Co. renewed a SAR 52 million Shariah-compliant credit facility with Saudi National Bank (SNB), the company said in a statement to Tadawul.

The one-year financing facility was secured on July 23 and will be used to finance various projects.

The facility is backed by a promissory note and project revenue assignment.

There are no related parties to the contract, the statement added.