VOL. XLII
No. 07
15-February-1999
SAUDI ARABIA
Al Rajhi To Finance $835Mn SCECO-West
The Saudi bank al-Rajhi Banking and Investment Corporationannounced on 10 February that it had agreed to finance the entire SR3.13bn($835mn) Saudi Consolidated Electric Company - West (SCECO-West) power plantproject. A bank official was reported to have said that "the financingwill be for 13 years, including a three-year grace period with an annualreturn of around 8%." Al-Rajhi bank is an Islamic bank and...
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