Saudi Arabia's Neom has announced that it has secured a revolving credit facility worth $2.7bn to cater to the project's short-term financing requirements. Nine local banks, including Saudi National Bank, Riyad Bank, Saudi Awwal Bank, Al Rajhi Banking and Investment Corporation, Alinma Bank, Arab National Bank, Bank Albilad, The Saudi Investment Bank and Bank AlJazira, have agreed to provide financing. "As Neom continues to gather pace, this new credit facility, backed by Saudi Arabia’s leading financial institutions, is a natural fit within our wider strategy for funding. We continue to explore a variety of funding sources as we deliver transformational infrastructure assets while supporting the wider Vision 2030 programme," said the CEO of Neom, Nadhmi Al Nasr. The new financing agreement builds upon the deal signed with banks and lenders in March last year for the $8.5bn integrated green hydrogen project in Neom.   (ICE RIYADH)

Fonte notizia: Meed