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Maaden secures 1B dollar joint financing
The Saudi Arabian Mining Company (Maaden) announced its successful completion of arrangements to secure its first-ever syndicated international loan worth one billion dollars, supported broadly by international banks from multiple markets. This reflects the confidence of financial institutions in the company's financial position and its growth strategy. Half of the amount ($500 million) will be used to support expansion plans and developmental projects, while the other half will be allocated for additional financing to support future growth. This enhances the company's ability to execute projects in the mining sector and qualifies it to achieve the goals of Saudi Arabia's Vision 2030.
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