Saudi’s Methanol Chemicals Company Inks Murabaha Financing Agreements Worth SAR 695 Million 

Saudi-based Methanol Chemicals Company (Chemanol) has announced the signing of two Murabaha financing agreements, with Banque Saudi Fransi and Alinma Bank, valued at SAR 695 million (USD 185 million), as per a bourse filing on the 13th of July 2022.

Why it Matters?

Through the first deal, worth SAR 455 million (USD 121 million) , the company aims to repay existing debts with better terms and cheaper finance charges, while the second financing, valued at SAR 240 million (USD 64 million), will fund the methanol plant expansion project. The project will lower production costs and produce profits that are sustainable for all of the company's products.

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