Saudi Arabia's Sahara Petrochemical signs $107m credit facility

15 October 2012 03:10  [Source: ICIS news]

SINGAPORE  (ICIS)--Saudi Arabia's Sahara Petrochemicals has signed a three-year medium-term revolving credit facility with Saudi Investment Bank for Sauri riyal (SR) 400m ($107m), partly to fund future investments, the company said over the weekend.

The facility is also aimed at providing “stand-by support for the company’s financial requirements with respect to working capital and the needs of the company’s projects”, it said in a statement filed with the Saudi Stock Exchange or Tadawul on 13 October.

($1 = SR3.75)
By: Nurluqman Suratman

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