Middle East Economic Survey

VOL. XLVIII

No 27

4-July-2005

SAUDI ARABIA

Rabigh Project Seeking $5.5Bn From Debt Markets

The proposed Rabigh refining and petrochemical complex project in Saudi Arabia is expected to seek $5.5bn from the debt markets and will need around $8bn for development, MEES understands. Originally the cost was estimated at $4.3bn, with the debt component seen totaling $1.5bn (MEES, 28 February) but this has been hiked, not only due to some changes in the scope of the project,...