Middle East Economic Survey
SABIC Secures $435Mn Loan From HSBC For Hadeed Steel Plant Expansion
Saudi Basic Industries Corporation (SABIC) on 1 February signed a $435mn loan agreement with HSBC for an expansion project at the Saudi Iron and Steel Company (Hadeed) steel plant in Jubail industrial city. The agreement was secured by the Italian export credit agency SACE. Under the expansion, Italys Danieli Group will build a 1mn tons/year capacity steel...