The Saudi Export-Import Bank (Saudi EXIM), Advanced Metal Industries Cluster Co., Ltd. (AMIC), and the AMIC Toho Titanium Metal Co. Ltd. (ATTM), a manufacturing company within the National Industrialization Company (Tasnee), have signed a credit facility agreement worth SAR50 million. The bank is providing this as working capital financing to the company to provide the liquidity it needs for its export activities, thus contributing to increasing Saudi exports to various markets worldwide.
The agreement was signed at Tasnee's headquarters in Riyadh in the presence of Saudi EXIM CEO Eng. Saad bin Abdulaziz Al-Khalb and Tasnee CEO Fawaz bin Mohammed Al-Fawaz.
The ATTM company produces titanium sponge, a unique product produced by a few companies worldwide. It is one of the most essential basic inputs in many vital strategic industries, such as aerospace and medicine. The company exports it to many major markets around the world, such as the United States, the United Kingdom, Japan, China, and Estonia.
Saudi EXIM is a development bank affiliated with the National Development Fund (NDF). It works to build strategic partnerships to enhance the efficiency of the export-import system in the Kingdom of Saudi Arabia, contributing to the development of non-oil Saudi exports and achieving the related targets in the Kingdom's Vision 2030.
