Middle East Economic Survey

VOL. LII

No 8

23-Feb-2009

SAUDI ARABIA

Sipchem Signs $360Mn PIF Loan

Saudi International Petrochemical Company (Sipchem) announced on 15 February that it had signed a funding agreement with the state-owned Public Investment Fund (PIF) for a SR1.35bn ($360mn) loan to be used in the construction of its Acetyls Complex in Jubail. Sipchem had earlier secured for the complex a SR1.12bn ($298mn) loan from the Saudi Industrial Development Fund and a SR1.43bn ($382mn) commercial...