Middle East Economic Survey
Tasnee Cracker Approaches Banks, Seeking $1.8bn DebtSaudi Arabias Tasnee ethane/propane cracker project in al-Jubail officially approached the bank market earlier this month, seeking funding of $1.8bn (MEES, 12 December 2005). The banks are due to respond in the second week of February and signing is planned for April. The project, advised by HSBC (MEES, 9 May), is expected to cost a total of $2.5bn. Debt is expected to come...