Saudi Arabian construction firm Abdullah Abdul Mohsin Al-Khodari and Sons said on Sunday that it had renewed an existing SR132 million ($35.2 million) Islamic credit facility with Samba Financial Group.

The facility will provide bonding commitments as well as capital and working capital requirements for projects and general business, it said in a statement. Credit limits for projects covered by the facility will range from 36 to 60 months.

In a separate statement, the company said it had won a SR69 million contract from the kingdom's Ministry of Environment, Water & Agriculture for the maintenance of water networks.

The financial impact of the project is expected to start in the third quarter, it added. - Reuters