RIYADH May 7 Saudi Basic Industries Corp
(SABIC), the world's biggest petrochemicals group,
will issue a sukuk late this year or next year to fund coming
projects, a senior company official said on Tuesday.
SABIC has 40 billion riyals ($10.7 billion) worth of
projects over the next few years and the company prefers to fund
these with sukuk, although "not at any cost", Chief Financial
Officer Mutlaq al-Morished said on the sidelines of a financial
He said the timing of the sukuk would depend upon both the
development of the projects and conditions in financial markets.
It is too early to give the size of the sukuk, he added.