Saudi banks ready to finance petrochemical projects: Al-Bilad Bank chairman

Saudi Arabia’s banking sector is fully prepared to finance studied petrochemical projects, said Ibrahim Al-Subaie, chairman of Al-Bilad Bank.  

There is significant growth in finance available for the petrochemical sector, Al-Subaie said to Asharq Al-Awsat newspaper.

This growth will continue in Saudi as a result of the increasing demand for these types of investments, he said. 

He added that the economic slowdown in Asian economies— which is considered the most important market for Saudi petrochemical products— will affect the profit margins.