Al Reda Al Alamiya Adds 115 Percent Facilities from Al Ahli Saudi

Red Sea International Company has increased the value of the financial facilities granted to it by the National Commercial Bank of Saudi Arabia by 115%, reaching 430.78 million SAR, according to a disclosure on "Tadawul." The company has signed an amendment to a previous financing agreement worth 200 million SAR, aimed at issuing guarantees and advance payment guarantees, as well as providing documentary credit financing. The guarantees associated with the financing include a promissory note valued at 430.78 million SAR from Al-Turukibat Al-Awaliyah for Electrical Works, backed by guarantees from several companies and individuals. These include guarantees worth approximately 219.7 million SAR from Red Sea International, 147.76 million SAR from MIM SIN B Holding, in addition to personal guarantees exceeding 42 million SAR from Fares Ismat Abdul Samed Al Sadi, and 21 million SAR from Ziad Jan Al Saieg.

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