Saudi Arabian modular house manufacturer Red Sea International has secured a $104.3 million (SAR 392.2 million) Shariah-compliant credit facility from Riyad Bank.
The three-year financing is meant to support the construction of a staff camp.
The facility is covered by a promissory note worth SAR 397,215,000 signed by Red Sea International.
The company provides prefabricated modular buildings for various real estate and industrial sectors.
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