Middle East Economic Survey


No 26


Lenders Sign Agreement To Provide Satorp With $8.5Bn

Lenders signed an agreement on 22 June to provide the Saudi Aramco Total Refining and Petrochemical Company (Satorp) with $8.5bn in funding for its 400,000 b/d export refinery project in Jubail. It is Saudi Arabias largest project financing to date, superseding recent mega-projects in the kingdom such as the Saudi Aramco/Sumitomo PETRORabigh petrochemical facility which carried $5.84bn...