Skip to main content

Advanced Petrochemical announces loan agreement

Published by , Senior Editor
Hydrocarbon Engineering,


Advanced Petrochemical Co. has announced that Advanced Polyolefins Industry Co., a subsidiary company, has signed a loan agreement with the Saudi Industrial Development Fund (SIDF).

The loan agreement is valued at 3 billion Saudi Riyals, and comes as a completion of the procedures and requirements stipulated by SIDF in the conditional loan approval.

The loan, which is repayable in 16 unequal semi-annual installments, will be used to finance the construction of propane dehydrogenation (PDH) and polypropylene (PP) plants with a nameplate capacity to manufacture 843 000 tpy propylene and 800 000 tpy PP in Jubail Industrial City II, Saudi Arabia.

Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/10032022/advanced-petrochemical-announces-loan-agreement/

You might also like

The Hydrocarbon Engineering Podcast - Education and training for every phase of the insulating system design process

In this episode of the Hydrocarbon Engineering Podcast, Brandon Stambaugh, Owens Corning Director for Technical Services, joins us to discuss engineers’ demand for education and training to support the critical phases that affect the performance and longevity of insulating systems.

Tune in to the Hydrocarbon Engineering Podcast on your favourite podcast app today.

Apple Podcasts  Spotify Podcasts  YouTube

 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

Downstream news