Sahara's Alwaha Petrochemicals inks $70 mln revolving loan with SFD

24/11/2015 Argaam

Alwaha Petrochemical Co., which is 75 percent owned by Sahara Petrochemicals Co., has signed a SAR 262.5 million ($70 million) revolving loan agreement with the Saudi Fund for Development (SFD), as part of the Saudi Export Program.

 

The financing facility, which has a five-year tenure, will fund the company’s working capital, Sahara said in a statement.

 

The loan is meant to promote Saudi-produced petrochemicals with the export program.

 

Alwaha Petrochemical Co. is 25 percent owned by Basell Arabia Investments Limited.

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