Sunday, Mar 25, 2012
(This story was originally published Saturday.)
BEIRUT (Zawya Dow Jones)--Saudi Arabia's Nama Chemicals Co. (2210.SA) said Saturday its unit Jubail Chemical Industries Co., or Jana, has secured a loan of 208.7 million Saudi riyals ($55.65 million) from the state-run Saudi Industrial Development Fund, or SIDF.
Jana will use the loan to finance additional expenditures resulting from an increase in the cost of its Hassad project that it had been previously covered from the proceeds of a capital increase carried out by Nama in 2008, Nama said in a statement posted on the Saudi bourse website.
The Hassad project will produce epichlorohydrin which is a chemical compound used in the production of epoxy resins.
By Shikrallah Nakhoul, Zawya Dow Jones, +961 1 985757, shikrallah@zawya.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
25-03-12 0344GMT
