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Al Yamamah Company for Reinforcing Steel Bars, a subsidiary of Al Yamamah Steel Industries Co., has signed a Shariah-compliant credit facility agreement valued at SAR 500 million with Arab National Bank (ANB). The financing deal features a seven-year tenor and is fully secured by a promissory note, with no related parties involved in the transaction. Procedures to finalize the setup will continue sequentially.
This capital injection is directly earmarked for the establishment of a new steel billet plant. By securing long-term Islamic financing, Al Yamamah Steel reinforces its operational expansion goals without immediately diluting equity, reflecting strong localized banking support for industrial infrastructure projects within Saudi Arabia.
For investors and market participants on Tadawul, this agreement underscores long-term industrial growth alignment with Saudi Vision 2030 initiatives. Investors will be keeping a close eye on the construction timelines and future earnings potential once the steel billet plant becomes operational.
