Arabi Enertech, a subsidiary of Arabi Holding Group with a 72% ownership stake, has announced the extension of its banking facilities agreement with a local bank. The value of the agreement is KWD 9,729,520 with a maturity date of 20 August 2023.
In a statement issued to Boursa Kuwait, Arabi Holding Group stated that the financial impact of this extension will involve the reclassification of both current and non-current liabilities.