We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

Latest News

Saudi Electricity Gets $500 Mln Tokyo-Mitsubishi Loan

Loan to finance some of the company's capital projects


March 12, 2011 6:25 by

Saudi Electricity Co (SEC) said on Saturday it has signed a $500 million loan agreement with the Bank of Tokyo-Mitsubishi UFJ Ltd to finance some of the company’s capital projects.

“This kind of financing is in line with the company’s strategy of diversifying its sources of finance and to open the door to tap into global markets, as well as to support the company’s investments in meeting the growing energy demand in the country,” the firm said in a bourse statement.

It did not give the terms of the loan.

SEC plans to invest $80 billion to boost its capacity to at least 70,000 megawatts by 2020 from an installed capacity of 50,000 MW to meet domestic demand, which is rising at 8 percent annually.

Saudi Electricity is 81 percent owned by the government, while 19 percent is floated on the stock market. (Reporting by Asma Alsharif)


Tags: , , ,

Leave a Comment