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Dow Chemical Co's Joint Venture Signs Fundraising Package-Reuters

Sunday, 16 Jun 2013 11:07am EDT 

Reuters reported that Dow Chemical Co's Joint Venture Company Sadara Chemical Co has signed a fundraising package for the $19.3 billion petrochemical complex it is building in the east of the kingdom, three banking sources said. The financing package totals around $12.5 billion and consists of loans from banks, export credit agencies and the state-owned Public Investment Fund, as well as proceeds from an Islamic bond issue. The remaining cost will be met by the two partners. Sadara was not immediately available for comment.