Saudi European Petro-chemical (Ibn Zohr), a Sabic subsidiary has borrowed US$855 million in an Islamic loan to finance expansion. The amount was borrowed under a murabaha facility from a consortium of Saudi and international banks.
Sabic owns 80% of Saudi European, which is expanding an existing polypropylene plant in the Gulf coast city of Al Jubail to add 500,000 tons by January 2009 to the current production capacity of 640,000 tpa.
05-Jul-07 
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