Saudi-based Red Sea International Company said its key subsidiary, The Fundamental Installation for Electric Work Company, had doubled its banking facilities with Saudi National Bank to SAR430.8 million ($113 million) from SAR200 million ($52.4 million) earlier.
Saudi Energy has secured a shariah-compliant Murabaha financing facility with a total committed amount of SAR15.8 billion from a consortium of seven leading Saudi banks to support its general corporate purposes.
