You are currently here: News » Industry » SAUDI ARABIA: Aramco, Dow plan to close financing for ...
Section: General
  • Written on 04.02.2013 - Industry
  • You have these options:
    • Print this article
    • Article as PDF

SAUDI ARABIA: Aramco, Dow plan to close financing for $20-billion Sadara Chemical JV

Sadara Chemical Co. partners Saudi Arabian Oil Co. (Aramco) and Dow Chemical expect to complete financing arrangements this year for their $20-billion joint venture petrochemical complex in Jubail, Saudi Arabia.

The partners are considering various options, including loans, sukuk (Islamic bonds) and public funds, said reports quoting Aramco Treasurer Jamal Al Rammah.

The U.S. Export-Import Bank last year approved a $4.975-billion direct loan to Sadara, referring to the loan as its “largest job-supporting authorization to date.” The loan will be used for the export of American goods and services required in the construction of the complex.

Sadara’s complex will be comprised of 26 processing units to produce more than 3-million t/y of petrochemicals and plastics starting in 2016.

Source: Weekly "PetroChemical News", Durham, NC, USA; 4 Feb 2013

(Syed Rashid Ali, Karachi, Pakistan)


RSS Feed

Are you new here? Do you want to be always up to date?
Then subscribe to our RSS Feeds and never miss a news again.