Mubasher: Oula Fuel Marketing has signed a credit facility contract with Al Ahli Bank of Kuwait (ABK), according to a bourse filing on Wednesday.

The loan deal is worth KWD 25 million ($83.1 million), and it will be allocated for owning and building a tower valued at KWD 25 million.

Oula Fuel noted that the construction works of the tower are expected to be completed by 2019.

The company added that no financial impact will affect Oula Fuel’s position in the current time, but once the company uses the loan, its impact will reflect on the income statements based on the amounts used in the contract’s duration.

At the stock level, Oula Fuel closed Wednesday’s session 0.87% lower at 114 fils after about 71,900 shares were exchanged at a total value of nearly KWD 8,200.