‎Red Sea unit inks deal to up SAB facilities by SAR 100M

Red Sea International Co.’s (RSI)subsidiary The Fundamental Installation for Electric Work Co. Ltd. signed an agreement to increase the limit of financial facilities with Saudi Awwal Bank (SAB), by SAR 100 million, according to a statement to Tadawul. Accordingly, the total value of the facilities contract becomes SAR 296.10 million, the statement added.

The financing would extend until Dec. 18, 2025.

Red Sea International Co.’s (RSI)subsidiary The Fundamental Installation for Electric Work Co. Ltd. signed an agreement to increase the limit of financial facilities with Saudi Awwal Bank (SAB), by SAR 100 million, according to a statement to Tadawul. Accordingly, the total value of the facilities contract becomes SAR 296.10 million, the statement added.

The financing would extend until Dec. 18, 2025.