RIYADH , 19th December, 2013 /WAM/ -- Saudi Electricity Company / SEC / today announced the signing of a $634?1 billion loan agreement with the Korean export banks, K-Sure and K-Exim, in addition to several international banks. The Saudi Press Agency quoted the company's statement on its "Tadawul" web site, as saying that the funding term extends for 12 years after a grace period of three years with effect from 19th December, 2013 , pointing out the company's aim for the funding is to build a power plant south of Jeddah with a capacity production of 2640 MW, representing the second tranche of a financing of $2 billion .
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