Wednesday, Oct 10, 2012
(This article was first published Tuesday.)
BEIRUT (Zawya Dow Jones)--Saudi Arabia's Alujain Corp. (2170.SA) Tuesday said its unit National Petrochemical Industrial Co., or NatPet, has signed an agreement to secure a $20 million revolving credit facility from the Saudi Fund for Development.
The three-year facility is part of the Saudi Export Program and aims to support Natpet's exports, Alujain said in a statement posted on the Saudi bourse website.
Natpet has provided a corporate guarantee against the facility, according to the statement.
Alujain, which invests in petrochemicals and industrial projects, holds a 57.4% stake in NatPet that manufactures propylene and polypropylene, according to Zawya.com data.
Alujain shares closed Monday -0.3% at SAR16.65.
Write to Shikrallah Nakhoul at shikrallah@zawya.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
10-10-12 0346GMT
