Bahri Financed for Two General Cargo Ships
Bahri is to sign a 'Murabaha Agreement' with Public Investment Fund (PIF).
The value of the financing contract is equivalent to Saudi Riyals 450,000,000 (Four Hundred and Fifty million). The repayment will be made in equal quarterly installments over 10 years from delivery of vessels. The Contract will be signed by Mr. Abdullah Ibrahim Al-Eiyadhi, Acting General Secretary of PIF and Engr. Saleh Nasser Al-Jasser, Bahri CEO.
Engr. Al-Jasser indicated that these two vessels are part of the contract signed in March 2011 for the construction of six General Cargo vessels which will be received starting from early 2013 onward.