Petrochem signed SAR 600m credit facility with Al Riyad bank

28/05/2013 Argaam

National Petrochemical Company (Petrochem) signed a SAR 600m credit facility agreement with Riyad bank as said in a statement on Tadawul today.

 

 

 

The sharia compliant agreement has a term of 24 months and was granted against a negotiable promissory note with guarantee from the Saudi Industrial Investment Group.

 

 

 

This credit line will be used to cover the company's operational needs or for its Saudi Polymer Company.

 

 

 

 

 

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