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Watani Iron Steel Co. has announced the renewal of its Sharia-compliant credit facilities agreement with Alinma Bank, valued at SAR 25 million. According to a statement submitted to Tadawul, the financing term is scheduled to run from August 23, 2026, until August 31, 2027. The facility is fully secured by a promissory note provided in favor of Alinma Bank for the total amount of the financing.
The company stated that the primary purpose of these short-term credit facilities is to finance its operational working capital requirements. Watani Steel also confirmed that no related parties were involved in the transaction and the renewed facilities maintain the same monetary value as the previous agreement, ensuring ongoing liquidity support.
For investors and market participants, the successful credit renewal reflects sustained confidence from banking institutions in Watani Steel's balance sheet and operational capacity. The agreement ensures liquidity stability for the company's core business activities on Nomu - Parallel Market without adding debt stress or related-party conflicts.
