VOL. XXXIX

No. 41

8-July-1996

SAUDI ARABIA

$880Mn Loan In Pipeline For HADEED

Following the award on 27 June of the final contract for the construction of an 850,000 ton/year flat steel plant at the Jubail complex of the Saudi Iron and Steel Company (HADEED) to Austria's Voest-Alpine Industrieanlagenbau and Germany's Schloemann Seimag (MEES, 15 April), a group of banks is putting together a loan to finance the SR3.3bn ($880mn) project. ANZ Grindlays Bank, which backed the successful...