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Sipchem Signs Loan Agreement for EVA/LDPE JV with Hanwha

6:24 AM MST | November 27, 2011 | Natasha Alperowicz

Saudi International Petrochemical Company (Sipchem; Al Khobal, Saudi Arabia) says its affiliate the International Polymers Company (IPC) has signed a SR600 million ($160 million) loan agreement with the Saudi Industrial Development Fund (SIDF; Riyadh). The agreement was signed by Ali A. Al Ayed, director general of SIDF and Abdullah S. Al Saadoon, Sipchem president/operations. The funds will be used to part finance a previously announced project to build a 200,000-m.t./year facility producing ethylene vinyl acetate/low-density polyethylene at Jubail, Saudi...

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