TITLE

SABIC adheres to Islamic code

AUTHOR(S)
Chowdhury, Divya
PUB. DATE
July 2007
SOURCE
ICIS Chemical Business;7/9/2007, Vol. 2 Issue 74, p55
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the borrowing of an Islamic loan by SABIC subsidiary Saudi European Petrochemical Co., also known as Ibn Zahr. According to a SABIC statement, Ibn Zahr has borrowed the money under a murabaha facility from a consortium of Saudi and international banks. It is noted that with this loan the company will expand its 640,000 tonne/year polypropylene plant in Al-Jubail, Saudi Arabia by 500,000 tonne/year.
ACCESSION #
26745928

 

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