The Middle East Specialised Cables Company (MESC), a leading Saudi-based manufacturer and supplier of specialised cables to the oil & gas, petrochemicals and construction sectors, has announced that it has obtained key sharia-compliant funding from the UAE's Emirates Islamic Bank.
Saudi-based Middle East Specialised Cables Company has announced that it has signed an addendum to a credit facilities agreement with Al Inmaa Bank, thus increasing the total facility to SAR250 million ($66.7 million) from SAR150 million ($40 million). The amended facility will run until August 31, 2028.
Middle East Specialised Cables Company has announced that it had signed a sharia-compliant finance agreement with Saudi Awwal Bank worth SAR100 million ($26.6 million). The funds will be used to support MESC's working capital and the issuance of performance bank guarantees.
