Arabian Plastic Industrial Co. (APICO) renewed a SAR 92.1 million Shariah-compliant credit facility with Saudi Investment Bank (SAIB) on February 26. The agreement includes a SAR 47 million revolving facility for working capital and a SAR 45.1 million CAPEX facility for plant expansion in Al Kharj. This follows a similar SAR 105.5 million deal in March 2023. The financing supports APICO's operational growth and production capacity, potentially boosting investor confidence in its expansion strategy.
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