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.

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.