Qassim Cement Company Announces Signing a Sharia-Compliant Credit Facilities Agreements with The Saudi National Bank (SNB)
| Element List | Explanation |
|---|---|
| Introduction | Qassim Cement Company announces the signing of a Shariah-compliant credit facility agreement with the Saudi National Bank (SNB) to support the financing of a fourth production line project at the company's plant, with a production capacity of 10,000 tons/day to replace certain existing production lines, in addition to financing the company's working capital. |
| Date of obtaining the funding | 2025-12-22 Corresponding to 1447-07-02 |
| Financing entity | Saudi National Bank (SNB) |
| Financing amount. | (1,500,000,000) One billion five hundred million Saudi Riyals. |
| Financing duration. | Ten Years |
| Guarantees offered for the financing | Promissory Note Issued by Qassim Cement Company |
| Financing objective | Support the financing of a fourth production line project, which was previously announced by the company on 14-08-2025 with a production capacity of 10,000 tons/day, in order to replace certain older production lines, which contributes to the Kingdom's objectives to improve energy efficiency and environmental protection, in addition to financing the company's working capital. |
| Related Parties | Saudi National Bank (SNB) |
| Additional Information | The necessary signatures for the credit facility agreement have been completed on 02-07-1447 AH - 22-12-2025 |
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Qassim Cement Company is a Saudi Joint Stock company, established in accordance with the Royal Decree No. M/62 on 15 Shaban, 1396H. (August 11, 1976) and registered in Buraydah City under commercial registration number 1131001224 on 28 Shaban, 1398 (August 2, 1978). On 4 of Dhu al-Hijjah 1445 AH (June 10, 2024), Qassim Cement Company announced the completion of the acquisition of Hail Cement Company (HCC) by increasing its capital through the issuance of new shares to Hail Cement Company shareholders.
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Qassim Cement Co.| Building No: 4266 | Unit Number: 1 | Buraidah: 52271 - 6735 | Kingdom of Saudi Arabia
Phone : (+966) 16 316-5555
Fax : (+966) 16 381-6041
Email : qcc@qcc.com.sa
