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- Foreign funds drag QSE down 44 points; M-cap melts QR1.27bn
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02/06/2012 15:58 AST
Saudi International Petrochemical Company (Sipchem) said on Saturday its polymers affiliate has signed a SR1.4 billion ($373.3 million) loan agreement to finance the construction of a petrochemical project in Saudi Arabia.
The Islamic-compliant loan inked with Saudi banks - Riyadh Bank, National Commercial Bank, Bank Saudi Hollandi, and Saudi British Bank - will help finance half of the project's cost, estimated at SR3 billion, Sipchem said in a statement to stock exchange.
The affiliate International Polymers Company (IPC) is 75 per cent owned by Sipchem, and the remainder is owned by South Korea's Hanwha Chemical.
The plant in Jubail, due to start work in mid-2013, would produce an annual 200,000 tonnes of ethylene vinyl acetate (EVA) and low-density polyethylene (LDPE).
It would start repaying the loan in two and a half years on the basis of a half-year installment, Sipchem said.
South Korea's G.S. Engineering and Construction is conducting engineering, procurement and construction (EPC) work.
Reuters
08/02/2018
SAUDI International Petrochemical Company (Sipchem) announced that its Technology and Innovation Center (MANAR) has signed a technical services agreement with Everspring Middle East WLL. for the prov
Saudi Gazette
31/01/2018
Saudi International Petrochemical Co. is considering investing in the US shale industry in what would be the company's first foreign venture as it faces higher costs and a shortage of feedstock at ho
Gulf News
11/10/2017
Saudi International Petrochemical Company (Sipchem) announced on Monday that it finished the manufacturing of 18 platforms for Hawk jets, alongside its ground equipment.
The manufacturing
Asharq Al-Awsat
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| MAADEN | 52.30 | -1.40 (-2.61 |
| SABIC | 55.15 | 0.85 (1.56 |
| SABICAGRINUTRIENTS | 119.00 | 2.50 (2.14 |
| LIMEINDUSTRIES | 12.82 | -0.28 (-2.14 |
| APICO | 40.90 | 3.04 (8.02 |
29/07/2025
Ooredoo has received the Bronze Stevie Award for 'Employer of the Year in the Telecommunications Industry' at the 2025 International Business Awards, highlighting the company's unwavering commitment
Gulf Times
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The Commercial Real Estate Company (Al-Tijaria) KPSC announced that, in collaboration with its subsidiaries and its affiliate company Kuwait Resorts Company, it has invested a total of $15 million (e
Kuwait Times
29/07/2025
At National Bank of Kuwait, our customers' voices are at the heart of everything we do. We are proud to announce a new wave of enhancements to our NBK Mobile Banking App, designed directly in respons
Kuwait Times
29/07/2025
Zain Bahrain, a leading telecommunications industry innovator in the kingdom, has reported a revenue of BD41.25 million ($109 million) for the first six months, up 7.3% compared to the previous year'
Trade Arabia
29/07/2025
Turkish Airlines, the national flag carrier of Türkiye, said it has successfully executed an innovative financing transaction for an Airbus A350 aircraft with Dubai Islamic Bank (DIB).
The
Trade Arabia
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