Saudi Aramco and Dow Chemical have secured main financing for the Sadara Chemical Company JV, one of a number of record-setting petrochems projects under development in Saudi Arabia. Besides Sadara, other “world’s largests” being built include the SABIC/Mitsubishi Rayon methyl methacrylate/polymethylmethacrylate (MMA/PMMA) and Saudi Butanol Company (Sabuco) projects (see table).
Sadara on 17 June said it had signed a SAR39.375bn ($10.5bn) loan deal with Saudi and foreign commercial banks, the Islamic Development Bank, export credit agencies and the kingdom’s Public Investment Fund (PIF). The first draw will be this month. (CONTINUED - 538 WORDS)