Red Sea International Unit Obtains Upsized Financial Facilities from Saudi National Bank

10:41 AM EDT, 07/28/2026 (MT Newswires) -- Red Sea International's (SASE:4230) subsidiary The Fundamental Installation for Electric Work Co. secured an increase in its financial facilities from Saudi National Bank. Under a newly signed amendment to the November 2024 agreement, the facilities were upsized to 430.8 million Saudi riyals from 200 million riyals, according to a Tuesday release. The modular engineering group said the facilities will support the issuance of advance payment and performance bonds as well as letters of credit facilities.