Dec 19, 2013
Further to the Companys announcement on 28/11/2012G (corresponding to 14/01/1434H) Saudi Arabian Mining Company (Maaden) announces that its affiliate, Sahara & Maaden Petrochemicals Company (SAMAPCO), has signed today Thursday 19/12/2013G (corresponding to 16/02/1435H) financing agreement to finance its ethylene dichloride (EDC) and caustic soda project. The agreement totaling USD 176 million (SAR 660 million) has been signed with the Public Investment Fund (PIF). The PIF loan is for a period of 13 years with semiannual repayments commencing on 31/12/2014. Promissory Notes were provided to effect payments due as per the agreement.
Any additional information will be announced in due course. SAMAPCO is a limited liability company, jointly owned 50:50 by Ma'aden and Sahara.