VOL. XL

No. 12

24-March-1997

SAUDI ARABIA

SABIC Takes Advantage Of International Appetite To Push ExpansionProgram

A raft of large upgrades for the affiliates and subsidiaries ofthe Saudi Basic Industries Corporation (SABIC), the flagship petrochemicals-to-steelmanufacturing group of Saudi Arabia, 70%-owned by the state, is expected through the restof 1997. Yanpet II, one of the largest ever financings in Saudi Arabia, with a totalproject cost of $2.5bn and a financing requirement of roughly...