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Saudi building materials supplier, quarry operator Saleh Abdulaziz secures $53.3mln loan

By Zawya03:35 (UTC), 30 September 2026 Updated

By Staff Writer

Saudi-listed Saleh Abdulaziz Al Rashed & Sons Co. has secured financing worth SAR 200 million ($53.3 million) from Al Rajhi Bank.

The building materials producer and quarry operator confirmed has signed a Shariah-compliant banking facilities agreement with the Saudi lender to fund its daily working capital, operational activities and expansion plans.

The duration of the loan, which is secured by a promissory note, is 13 months starting September 29, 2026.

The company operates major aggregate quarries and gravel sites. It also produces building materials, including asphalt mixes and raw materials used in concrete, road construction and major infrastructure projects in Saudi Arabia.

(Writing by Cleofe Maceda; editing by Seban Scaria)

(seban.scaria@lseg.com)

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