SABIC adheres to Islamic code

Chowdhury, Divya
July 2007
ICIS Chemical Business;7/9/2007, Vol. 2 Issue 74, p55
Trade Publication
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.


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