"Tatweer" and "Al Rajhi Bank" Sign a Financing Agreement Worth SAR 2.5 Billion to Develop New Projects
(MENAFN- Golin Mena) Riyadh, Saudi Arabia, December 31, 2024 Tatweer Company announced the signing of a financing agreement with Al Rajhi Bank, valued at SAR 2.5 billion, to fund new development projects as part of its plans for the upcoming phase. This agreement reaffirms the private sector's pivotal role in achieving the objectives of Saudi Vision 2030 and aligns with significant upcoming economic events.
The agreement was signed by Mr. Riyadh Al Thagafi, CEO of Tatweer Company, and Mr. Hossam Al Basrawi, General Manager Corporate Banking
Through this financing, Tatweer aims to inject substantial investments into the local market, developing diverse projects valued at approximately SAR 10 billion. These projects include innovative plans to enhance infrastructure and contribute to improving the quality of life in the Kingdom.
In his remarks, Mr. Riyadh Al Thagafi, CEO of Tatweer Company said: "This agreement marks a significant step in our journey to develop innovative and sustainable projects. We are committed to supporting Saudi Vision 2030 by executing projects that contribute to economic and social development, while reinforcing the Kingdom's position as a global investment hub."
This agreement embodies Tatweer's commitment to strengthening collaboration between the public and private sectors and leveraging financial capabilities to develop projects that meet the Kingdom's economic and developmental aspirations.
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