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Sahara and Ma'aden Ink Loan Agreement for EDC-Caustic Soda Project

8:38 AM MDT | May 1, 2012 | Natasha Alperowicz

Sahara & Ma’aden Petrochemical Co., (Samapco; Riyadh), an equally owned  joint venture between Sahara Petrochemicals and Saudi Arabian Mining Co. (Ma’aden), has signed a loan agreement with three Saudi banks to cover part of the costs of construction of a previously announced $750-million ethylene di-chloride (EDC) and chlor-alkali complex at Jubail, Saudi Arabia.   Three Saudi banks, the Saudi British Bank, Banque Saudi Fransi, and Riyadh Bank are providing a combined loan of SR1.882 billion ($502 million) toward the project with...

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