Middle East Economic Survey
VOL. LIII
No 31
2-Aug-2010
SAUDI ARABIA
Saudi Kayan Seeks Extra $2.4Bn As Capex On Petrochemical Project Rises
Petrochemical company Saudi Kayan said last week that it is seeking extra funds following the rise in capital expenditure for its giant petrochemical project in Jubail. The company announced on the Saudi bourse (Tadawul) that it expected costs to rise by approximately 24% or SR9bn ($2.4bn). It revealed that it was seeking bank financing to meet the shortfall...
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