Saudi Arabia

Riyad Bank Finances NCC's Second Chemical Carrier

Under a loan agreement signed on 26 November, Riyad Bank will lend SR188mn($50mn) to Saudi Arabia's National Chemical Carrier (NCC) to help finance theconstruction of a SR263mn ($70mn) chemical carrier, currently on order atKvaerner's shipyards in Norway and Scotland. The carrier is one of three 37,500dwt vessels ordered by NCC in January 1992 from Kvaerner at a total cost ofSR845mn ($225mn). NCC's...