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Sahara jv signs financing deals with Saudi banks for caustic soda-EDC project at Jubail

6:17 AM MST | November 29, 2012 | Sotirios Frantzanas

Sahara Petrochemicals (Jubail, Saudi Arabia) says that its affiliate, Sahara & Maaden Petrochemicals Co. (Samapco) signed financing agreements for a total amount of 1.98 billion Saudi riyals ($528.2 million) for a caustic soda and ethylene dichloride (EDC) project. The agreements were signed with three Saudi banks: Banque Saudi Fransi, Riyad Bank, and The Saudi British Bank. They will provide Islamic commercial financing for the development of Samapco's planed caustic soda and EDC complex at Jubail, the company says. The financing is for a period of 15 years...

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