Latest news with #AjlanBros
Zawya
05-08-2025
- Business
- Zawya
Bahrain: Ajlan & Bros completes $300mln Murabaha facility
Bahrain - Abdul Aziz Al Ajlan Sons for Commercial and Real Estate Investment, a part of Ajlan & Bros, has successfully completed its maiden syndicated unsecured $300 million seven years term Murabaha facility with a group of regional and Saudi banks. The new facility will enable Ajlan Group to further diversify the pool of banks and funding sources which will be used to finance the group's expansion initiatives. Gulf International Bank-Saudi Arabia (GIB), First Abu Dhabi Bank (FAB) and Kuwait Finance House Bahrain, acted as mandated lead arrangers for the new facility. GIB also acted as the sole coordinator and facility agent. Ajlan & Bros chairman Ajlan Abdulaziz Al Ajlan commented: 'The securing of the $300m financing through a syndicated facility, which was subscribed by leading regional banks, is a testament to the appeal and confidence in Saudi market and in the Ajlan Group expansion plans in key strategic sectors aligned with Vision 2030.' GIB-Saudi Arabia chief executive Khaled Abbas added, 'We are honoured to have successfully led this landmark transaction for Ajlan & Bros. The strong backing and participation of leading regional banks highlights the growing investor confidence and appetite for USD-denominated syndications for Saudi family-owned enterprises- particularly during this dynamic phase of economic transformation and growth in Saudi Arabia. We are grateful for the trust the company has placed in GIB during this debut offering and remain dedicated to delivering tailored financing solutions to diversify and optimise their sources of funding in support of sustainable long-term growth.' Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
02-07-2025
- Business
- Zawya
Saudi's SPPC signs PPA for 700MW Yanbu wind energy project
Saudi Power Procurement Company (SPPC), the principal buyer, has signed a power purchase agreement (PPA) for the 700-megawatt (MW) Yanbu wind Independent Power Plant (IPP) project, located in the region, The agreement was signed with a consortium led by Japan's Marubeni Corporation and Saudi Arabia's Ajlan & Bros Holding, the state-owned entity said in a post on X. The levelised cost of electricity (LCOE) is 6.4 halalas ($1.72) per kilowatt-hour (kWh). The project is being developed at a cost of more than 1.7 billion Saudi riyals ($458 million). The PPA duration wasn't disclosed but in May 2024, SPCC had signed two 25-year PPAs with a consortium led by Marubeni for the 600 MW AlGhat and 500 MW Wa'ad Alshamal wind IPP projects. (Editing by Anoop Menon) (
Argaam
02-07-2025
- Business
- Argaam
SPPC signs PPA for Yanbu wind power project
The Saudi Power Procurement Co. (SPPC) signed a power purchase agreement (PPA) for the Yanbu Wind Power Project, which has a total capacity of 700 megawatts and an investment value exceeding SAR 1.7 billion (approximately $ 458 million). The agreement was signed with a consortium led by Marubeni Corporation and Ajlan & Bros Holding Group.
Zawya
16-06-2025
- Business
- Zawya
Almarai to buy Saudi bottled drinking water producer for $277mln
Saudi Arabia's dairy and food group Almarai will acquire Pure Beverages Industry, a Riyadh-based bottled drinking water manufacturer, for 1.04 billion Saudi riyals ($277.23 million). The acquisition aligns with Almarai's growth strategy to grow its beverage portfolio and expand its consumer offerings. The buyout will be financed through internal cash reserves. However, the completion of the deal is subject to the fulfillment of contractual conditions and obtaining the necessary regulatory approvals in the kingdom. Pure Beverages, established by Ajlan & Bros Group in 1979, owns the Ival and Oska brands, according to the company's website. In March, Almarai said a plan to fully acquire the shares of Hammoudeh Food Industries by one of its subsidiaries for SAR263 million fell through as the seller was unable to meet certain conditions required to complete the transaction. (Editing by Seban Scaria
