National Shipping Company of Saudi Arabia (Bahri) signed a Murabaha revolving credit facility agreement worth SAR 3 billion ($800 million) with alrajhi bank.

The credit will be used to support and strengthen Bahri’s financial position and cover the working capital and CAPEX requirements.

The agreement was signed by Mr. Hussam Al-Basrawi, General Manager of Corporate Banking Group at alrajhi bank, and Mr. Basil Abu Al-Hamayel, Chief Financial Officer at Bahri, and the signing ceremony was attended by senior executives from both sides.