SAUDI ARABIA

Satorp Taps Riyadh For SR2bn To Reduce Bank Dues

The Arabian Aramco Total Services Company (AATSC) subsidiary of Saudi Aramco Total Refining and Petrochemical Company (Satorp) has secured four loans totaling SR2bn ($533mn) from the government’s Saudi Industrial Development Fund (SIDF), with the aim of reducing Satorp’s overall borrowing costs.

AATSC announced to the Saudi Stock Exchange (Tadawul) that the loans would be drawn in a single disbursement around the...