Middle East Economic Survey
GACIC Receives $115Mn Loan For Al-Jubail BDO Project
The Gulf Advanced Chemical Company (GACIC) on 7 June received a loan of SR431mn ($115mn) from the Saudi Public Investment Fund for a 75,000 ton/year capacity butanediol (BDO) project at al-Jubail. Some 25% of the work at the site has been completed, and the SR1bn ($267mn) plant is scheduled to begin production at the end of 2005. Last March, Aker Kvaerner was awarded a lump...