APICO secures SR 25m funding from SNB

Riyadh-based Arabian Plastic Industrial Company (APICO) has obtained shariah-compliant banking facilities of twenty five million Saudi riyals from Saudi National Bank (SNB) to finance working capital, the company announced in a disclosure to Tadawul, Saudi exchange, on Sunday.

This aligns with the company’s strategy to diversify its banking relationships, secure competitive facilities with favourable terms, and maintain a healthy level of leverage, the statement added.

Established in 1996, APICO serves customers across different sectors, including but not limited to Almarai Co., flynas, TotalEnergies, and Nahdi Medical Co.