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 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search