BSF signs SR912.5m financing deal with South Steel Co

摘要

In a major move to promote the steel industry in the Kingdom, the Banque Saudi Fransi (BSF) has come forward as a sole financing agent and has signed an SR912.5 million deal to finance the South Steel Co. project, one of the largest steel projects in the Gulf region. On behalf of the bank, the deal was inked by Jean Marion, BSF managing director; while Sulaiman Saleem Al-Harbi, chairman of Saudi Pan Kingdom Holding Co. (SPKH) signed, on behalf of South Steel Co. "The BSF is a strong bank and it continues to lend funds for good projects even in this period of global economic downturn," said Marion, while speaking to newsmen after the signing ceremony at the BSF Headquarters here yesterday. The event was attended by several senior bankers and SPKH executives including Abdulrahman Al-Jawa, BSF's deputy managing director, and Mohammed Al-Jedia, South Steel Company's managing director.