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Sahara and Maaden Sign Caustic Soda-Ethylene Dichloride Shareholders' Agreement

12:11 PM MDT | May 11, 2011 | Natasha Alperowicz

Sahara Petrochemical Co. and Saudi Arabian Mining Co. (Maaden) have signed a shareholders' agreement to build a previously announced chlor-alkali and ethylene dichloride (EDC) complex. The partners have also signed an offtake agreement under which the entire concentrated caustic soda output will be supplied to Maaden. The complex will be constructed at the Jubail site belonging to Sahara at a cost of $750 million. It will be financed by the Saudi Industrial Development Fund (SIDF) and commercial bank loans. SIDF is affiliated with the Ministry of Finance and...

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