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One of Emaar companies signed Murabaha contract by 2.7 billion riyals

Saudi Arabia - September 9, 2016

Emaar the economic city company, the specialized company in real estate development in KSA, said that Al Mawanea company which followed to it signed a Murabaha contract with National Arab Bank and Sabb Bank yesterday by 2.7 Billion Riyals.
In its statement to Tadawul on Wednesday said that the financing period extending to June 2030, Al Mawanea company aims of this finance to provide the necessary cash for capital expenses which it needs to develop the second stage of the kingdom Abdullah port.
The statement said that the company seeks to reach the absorptive capacity of the port, five million containers annually, sidewalks roll with a capacity of 600 thousand cars annually, and bulk cargo terminal with a capacity of 4 million tons annually, it said that the finance was taken with project revenues guarantee and the port’s land and guarantees of partners.
Also, the company is committed to executing the contracts and manage, develop, repair and investment of Abdullah kingdom economic city, in addition to offering all the necessary services to operate the port and its necessary amenities.


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