Riyadh – Mubasher: Alkhorayef Water and Power Technologies Company increased its Sharia-compliant financing with Alinma Bank to SAR 630 million from SAR 250 million, according to a bourse filing.

The security provided for the financing under the promissory note has also been amended to SAR 693 million, with all other terms and conditions remaining the same.

Alkhorayef Water secured the previous credit facility on 22 December 2021.

As of 30 September 2024, the company logged net profits valued at SAR 160.13 million, an annual surge of 45.14% from SAR 110.33 million.