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Saudi Acrylics Co. Signs Loan Agreement for Jubail Project

7:21 AM MST | February 5, 2012 | Natasha Alperowicz

Sahara Petrochemicals said Sunday that its affiliate, Saudi Acrylic Monomers Company (Samco) signed a SR 600 million ($160 million) loan agreement with Saudi Industrial Development Fund (SIDF) to help finance a previously announced acrylic acid and derivatives complex, which is being built within the Tasnee Petrochemicals site at Jubail. It will be designed to produce 145,000 m.t./year of acrylic acid, 145,000 m.t./year of butyl acrylate and 85,000 m.t./year of pure acrylic acid. The loan will be repaid after three and a half years from the date of signing at...

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