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Saudi power by the national Ministry of finance 8200000000 interest free loan

Information Source:Henan Huadong Cable Co., Ltd  Release date:2014-06-23

Recently, the state-owned power company Saudi electric (SEC) signed a 4940000000 yr and the State Ministry of Finance (about 8200000000 yuan) in interest free loans, and agreed the terms of the loan.

Saudi power said in a statement, the 15 year loan period, repayment before the grace period of 10 years.

In March this year, the company said, a royal command has approved the soft loans to fund projects.

Saudi electricity chief executive Ziyad Alshiha said the company planned expenditure, 662000000000 rials (about RMB 1.1 yuan) to 2023 added 40000 megawatts of installed power generation capacity, and expansion of power transmission and distribution networks.

Note: the exchange rate of RMB yuan 1 Saudi Riyals =1.6600

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