Saudi firm Advanced Petrochemical announced on the Tadawul exchange on 6 December that its Advanced Polyolefins Company (Apoc) joint venture has signed an agreement with the government’s Saudi Industrial Development Fund (SIDF) for a loan of SR3bn ($800mn).

The loan will help finance the construction of a propane dehydrogenation/polypropylene (PDH/PP) complex in Jubail Industrial City on the Gulf coast. The PDH plant will process 995,000 t/y of propane to manufacture 843,000 t/y of propylene, which will then be used as feedstock for an 800,000 t/y PP plant. (CONTINUED - 349 WORDS)