SAUDI ARABIA
Sadara Gets Go Ahead To Offer Sukuk To Finance $20Bn Project
Sadara Chemical Company has been given the green light by Saudi Arabia’s stock market watchdog, the Capital Markets Authority (CMA) to offer Sukuk to finance its 3mn tons/year $20bn petrochemicals project at Jubail. This is a first for the Kingdom. While the Satorp 400,000 b/d export refinery was the first project in Saudi Arabia to issue Sukuk, this was to replace other financing...
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