Watani Iron and Steel Company has announced the renewal of a Shariah-compliant banking facilities agreement with Alinma Bank. The agreement was signed on 28 Safar 1446 AH, corresponding to September 1, 2024, with a financing value of SAR 25 million. The purpose of these facilities is to finance the company’s working capital, with the agreement lasting from September 1, 2024, to August 30, 2025. The agreement is secured by a promissory note equivalent to the facility value in favor of Alinma Bank. It is worth noting that these short-term credit facilities have been renewed with the same previous value, and no related parties are involved in the agreement.