Maaden’s affiliate signs commitment letter with banks

30/04/2012 Tadawul

Further to the Company’s announcement on 10/01/1433h corresponding to (05/12/2011G) Saudi Arabian Mining Company (Maaden) announces that an affiliate, Sahara & Maaden Petrochemical Company (SAMAPCO), has signed today 09 Jummdah II 1433 Hijri (30 April 2012 G.) the commitment letter for the total amount of SR 1.882 billion (USD 502 million). The commitment letter was signed with three Saudi banks: The Saudi British Bank (SABB), Banque Saudi Fransi and Riyad Bank, to provide the Islamic commercial financing for the development of the Ethylene Dichloride (EDC) and Caustic Soda petrochemical project located in Jubail Industrial City. The commitment is for the period of 15 years with semi-annual repayments

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