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Saudi Sadara gets loans to fund USD19.3b petrochemical complex

18 Jun 2013

(MENAFN) Sadara Chemical Co, a joint venture between Saudi Aramco and Dow Chemical, stated that it secured loans aimed at funding its construction of a USD19.3 billion petrochemical complex in the kingdom, reported Arabian Business.

The company also said that the loans it secured amounted to USD10.5 billion and were signed with Export Development Bank Canada, the Saudi Public Investment Fund, the Islamic Development Bank, and export credit agencies.

It is worth noting that the petrochemical complex is located at Jubail Industrial City in Saudi Arabia’s Eastern Province, and is planned to be completed in 2016 and to produce over 3 million tonnes of petrochemicals per year. It will also be the world’s largest chemical complex built in a single phase.

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