VOL. XL

No. 23

9-June-1997

SAUD ARABIA

Saudi Chevron Signs Loans For $305Mn

Saudi Chevron Petrochemical, the 50-50 joint venture between SaudiIndustrial Venture Capital and the US oil major Chevron, has as expected signed a loanagreement for $305mn over 8.5 years to finance the construction of the first whollyprivate-owned petrochemical concern in the Kingdom (MEES, 24 March). The arrangersof the deal were Chase Investment Bank, Gulf International Bank, Saudi Investment Bank,Industrial Bank of...