VOL. XLV

No 48

2-December-2002

SAUDI ARABIA

SADAF To Make Decision Soon On $650Mn Loan

The Saudi Petrochemical Company (SADAF) is seeking a $650mn loan and plans to make a decision on whether it needs to go ahead and mandate banks to provide the funds sometime soon, MEES understands. Part of the loan would be used to refinance existing debt of about $400mn and the remainder to expand the companys facilities in al-Jubail. SADAF is a joint venture owned 50/50 by SABIC and Pecten Arabian (a...