Petrochemical
Advanced Petrochemical secures $800 mn loan deal for Jubail PDH, PP complex
Loan will be used to finance the construction of propane dehydrogenation (PDH) and polypropylene (PP) plants with a capacity to manufacture 843,000 propylene and 800,000 polypropylene annually in Jubail Industrial City II, Saudi Arabia
- By ICN Bureau
| March 13, 2022
Advanced Petrochemical Co. has announced that Advanced Polyolefins Industry Co., a subsidiary company, has signed a loan agreement with the Saudi Industrial Development Fund (SIDF).
The loan agreement is valued at 3 billion Saudi Riyals ($800 million), and comes as a completion of the procedures and requirements stipulated by SIDF in the conditional loan approval.
The loan, which is repayable in 16 unequal semi-annual installments and will be used to finance the construction of propane dehydrogenation (PDH) and polypropylene (PP) plants with a nameplate capacity to manufacture 843,000 propylene and 800,000 polypropylene annually in Jubail Industrial City II, Saudi Arabia.
