Middle East Economic Survey

VOL. XLVII

No 45

8-November-2004

ENERGY FINANCE

Gulf Advanced Chemical Industries Secures $47Mn Loan

Saudi International Petrochemical Companys (Sipchem) subsidiary, Gulf Advanced Chemical Industries (GACIC) has signed an agreement to receive a SR176.25mn ($47mn) loan from Saudi Hollandi Bank. The loan will be used to construct a 75,000 ton/year butanediol (BDO) plant in Jubail Industrial City. GACICs financial advisor was Turquoise International, a London-headquartered...