Middle East Economic Survey

VOL. LIII

No 14

05-April-2010

SAUDI ARABIA

IDB Approves $120Mn Loan For Satorp Refinery

The Islamic Development Bank (IDB) has approved a $120mn loan to participate in the Islamic financing facility for a new refinery project being developed by Saudi Aramco and Frances Total, IDB said on 28 March. The Jubail Refinery and Petrochemical Project is being built over four years, at a cost of $12.8bn, by Saudi Aramco Total Refining and Petrochemical Company (Satorp), in which...