BCI’s chlorine plant costs to be repaid under interim invoices

Basic Chemical Industries Co. (BCI) said in a corrective disclosure on Monday that the SAR 290.4 million financial impact arising from its chlorine derivatives plant in Jubail Industrial City will be repaid under interim invoices.

These invoices will prove the works accomplished by the general contractor.

The project is expected to be complete within 14 months from the date of signing the deal and the invoices will almost imply approximate values on a monthly basis, BCI added.

On Oct. 17, BCI inked a letter of intent (LOI) with Nasser Saeed Al Hajri & Partners Contracting Co. for the construction of BCI’s chlorine derivatives plant in Jubail Industrial City, Argaam reported.