Watani Iron Steel Co. (Watani Steel) has renewed a Shariah-compliant bank facility worth SAR 25 mln (USD 6.65 mln) with Alinma Bank, according to a stock exchange disclosure.
Backed by a promissory note, the financing will be used to support the company’s working capital requirements. The agreement is valid from September 8, 2025, to August 31, 2026.
Watani Steel was established as a limited liability company in August 2008 and transitioned to a closed joint-stock company in May 2020. Its shares were listed and began trading on the Nomu-Parallel Market in February 2021. Watani Steel has an annual production capacity of 280,000 tons of billet and 320,000 tons of rebars.
1 USD / 3.75 SAR
