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People & Business :: Companies

Sabic Signs $2.7-Billion Financing Agreements for China Project

4:48 AM MST | January 18, 2010 | Natasha Alperowicz

Sabic has announced the signing of financing agreements by its affiliate Sinopec Sabic Tianjin Petrochemical Co. (SSTPC), totalling Rmb18.26 billion ($2.68 billion), including Rmb12.26 billion long-term financing, and an addtional Rmb6 billion in working capital facilities to finance its petrochemical complex at Tianjin, China that is equally owned by Sabic and Sinopec. Khaled Al-Mana, Sabic executive v.p./polymers and chairman of SSTPC, signed the financing agreements on behalf of SSTPC. The financial package included financing by leading Chinese banks and...

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