Sipchem affiliate signs Shariah compliant SR1.4 bln loan deal for petrochem project

04-Jun-12
Saudi International Petrochemical Company (Sipchem) affiliate, International Polymers Company (IPC), has signed a Shariah compliant SR1.4 bln (US$373 mln) loan deal with Saudi banks, Riyad Bank, National Commercial Bank, Saudi Hollandi Bank, and The Saudi British Bank. The loan was repayable over 2.5 years in semi-annual installments. The funds will support the project financing of a production plant currently being built in Jubail Industrial City. The plant, being built by GS Engineering & Construction Corporation of Korea, will have an annual production capacity of 200,000 tons of ethylene vinyl acetate (EVA) and low density poly ethylene (LDPE) with plant start-up scheduled in H2-2013.
  More News  Post Your Comment
{{comment.Name}} made a post.
{{comment.DateTimeStampDisplay}}

{{comment.Comments}}

COMMENTS

0

There are no comments to display. Be the first one to comment!

*

Name Required.

*

Email Id Required.

Email Id Not Valid.

*

Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.
*

Message Required.

Click to Change image  Refresh Captcha