Doha: A joint venture between Aramco and Dow Chemical raised $2bn from an Islamic bond.
Sadara Chemical Company will use the money to finance the construction of a large petrochemical complex in Jubail Industrial City in the Eastern Province of Saudi Arabia.
The sale is part of a $12.5 billion debt to fund the construction of the project, which will produce more than 3 million tonnes of petrochemicals each year when completed in 2016.
The $19.3 billion facility, located at Jubail Industrial City in Saudi Arabia’s Eastern Province, will be the world’s largest chemical complex ever built in a single phase. [03/04/13]
