Saudi Kayan Seeks Additional Funds to Cover Rising Construction Costs

Saudi Kayan is seeking to raise additional bank loans to cover a 24% rise in the cost of construction of its multi-billion dollar complex at Jubail, Saudi Arabia. The company has already invested SR35.4 billion ($9.4 billion) in the complex and needs to raise an additional SR9 billion to complete the investment, according to its statement to the Saudi Stock Exchange. Saudi Kayan will seek loans and funds from shareholders, including Sabic, which holds a 35% stake in Kayan, to cover the rise in the cost and to avoid delays in completion dates. Saudi Kayan has...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers