Alinma Bank to grant US$1 bln credit facility to SABIC

16-Jun-10
In a move that will plug a gap in financing petrochemical projects at SABIC, Saudi Arabia based Alinma Bank is to grant US$1 billion credit facility that complied with Islamic law to SABIC- world number one world's biggest petrochemicals group. The credit facility will fund some of SABIC's petrochemical projects as part of its strategic plans to enhance financing performance, improve competitiveness and help accomplish its expansion and growth strategy.
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