Saudi Electricity to get $4bn govt loan
Riyadh, April 26, 2010
The Saudi government on Monday said it would grant a 15 billion Saudi riyals ($4 billion) soft loan to its cash-strapped power utility Saudi Electricity Co (SEC) which faces pent up power demand.
SEC would get the soft loan "within two years", the official SPA news agency said adding that it would be repayable over a 25-year period. - Reuters
