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Regions :: Middle East :: Saudi Arabia

Export-Import Bank approves $5-billion loan, its biggest ever, to Sadara

10:18 AM MDT | October 2, 2012 | Natasha Alperowicz

The US Export-Import Bank (Washington) has approved a direct loan worth $5 billion towards Sadara Chemical Co.’s $20 billion petrochemical complex now under construction at Jubail II, Saudi Arabia. Sadara is a joint venture between Saudi Aramco and Dow Chemical. It will allow close to 70 US companies to export US goods and services to Sadara, the bank says. The loan is the biggest in the bank’s history and will support more than 18,000 American jobs across 13 states, says Fred Hochberg, Ex-Im Bank president.   The previously announced project is...

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