Middle East Economic Survey
Sipchem To Issue Sukuk In 1Q11
Saudi International Petrochemical Company (Sipchem) announced on 14 December that it will issue shar'ia compliant sukuk to fund the companys near term growth in new projects. According to Ahmad al-Uhali, CEO of Sipchem, the company seeks to diversify sources of funding for its projects and intends to issue sukuk with a value of at least SR1.5bn ($400mn). The issuance should be concluded...