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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