RIYADH: A unit of Advanced Petrochemical Co. has closed a loan deal worth SR3 billion ($800 million) with the Saudi Industrial Development Fund, known as SIDF.
Advanced Polyolefins Industry Co. will use the funds “to finance the construction of propane dehydrogenation and polypropylene plants,” according to a bourse filing.
Located in Jubail industrial city, the plants will have the capacity to manufacture 843,000 tons of propylene and 800,000 tons of polypropylene annually.
