02/04/2013

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

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)

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