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Regions :: Middle East :: Saudi Arabia

Sahara outlines spending using rights issue funds

7:19 AM MDT | October 24, 2012 | Natasha Alperowicz

Sahara Petrochemicals has given an outline of investments, which benefited from funds it raised from the rights issued on 23 December 2011. The company has until the end of the third quarter of this year used the following amounts to finance previously announced projects: Samapco (Riyadh), an equally owned joint venture between Sahara and Ma’aden, has received 52.3 million Saudi riyals ($14 million) toward its $750 million chlor-alkali and ethylene dichloride project at Jubail; Saudi Acrylic Polymer Co., SR95.1 million; a neopentyl glycol...

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