Riyadh — Mubasher: Molan Steel Company inked a non-interest-bearing loan agreement totaling SAR 4.60 million with its major shareholder and related party, Dar Al Takamul Holding.
The financing, received on 30 September 2026, is structured as a "good loan" (Qard Hasan) with no administrative fees, investment returns, or interest charges.
The company intends to utilize the SAR 4.60 million facility to settle the remaining balance owed to Yara International Limited regarding the purchase of a subsidiary registry.
By securing this funding, Molan Steel aims to capitalize on a SAR 1.05 million discount previously negotiated under a settlement agreement, which requires full payment within 10 days of signing.
Under the terms of the agreement, Molan Steel is committed to repaying the full amount within a period not exceeding five months.
Repayment will be facilitated through the monthly allocation and transfer of company proceeds and revenues to the lender.
No guarantees were provided in exchange for the financing.
