Middle East Economic Survey
VOL. LII
No 26
29-Jun-2009
SAUDI ARABIA
Saudi Electricity Company Secures Loan From Exim, EDC
The Saudi Electricity Company (SEC) has received a SR4.1bn ($1.09bn) loan from the Export-Import Bank of the US (Exim) and Export Development Canada (EDC). Exim is providing $912mn with the remainder coming from EDC. The loan, which carries a 12-year tenor, will fund the purchase of 23 gas turbines, which each have the capacity to generate 2.9mw of power, from GE Energy. This is...
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