Home / Knowledge / News / Textiles / Sahara Petrochemicals signs Islamic financing deals
Sahara Petrochemicals signs Islamic financing deals
30
Nov '12

Sahara Petrochemicals Company announces that its affiliate, Sahara & Maaden Petrochemicals Company (SAMAPCO) has signed financing agreements for a total amount of SAR 1980.75 million (USD 528.2 million).

 

The agreements were signed with three Saudi banks: Banque Saudi Fransi, Riyad Bank and The Saudi British Bank, to provide Islamic commercial financing for the development of SAMAPCOs Ethylene Dichloride and Caustic Soda petrochemical project located in Jubail Industrial City.

 

The financing is for a period of 15 years with unequal semi-annual installments commencing after the completion of the project. Promissory Notes were provided to effect payments due as per the agreements. 


SAMAPCO is a 50:50 joint venture between SAHARA Petrochemicals and Saudi Arabian Mining Company (Ma'aden), with production expected to commence in the end of the first quarter of 2013. 

Sahara Petrochemicals Company

Must ReadView All

Textiles | On 29th May 2017

Special package creates 7,50,000 jobs in garment sector

The special garment package of Rs 6,000 crore that was introduced by...

Textiles | On 29th May 2017

Tintex, Bruckner bring new effects to knitted fabric

The textile company Tintex has joined hands with the system supplier...

Courtesy: Brook Brothers

Apparel/Garments | On 29th May 2017

America's Brooks Brothers added to CLiQ

Tata CLiQ Luxury, Tata group’s multi-brand, luxury e-commerce...

Interviews View All

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search