The International Petrochemicals Company of Saudi Arabia received a SR 400 million ($157 million) loan from the Saudi Industrial Development Fund, according to Al-Sharq Al-Awsat newspaper.
The company will use the loan to finance its new methanol-manufacturing factory in the Jubeil Industrial Estate. Production capacity of the new factory stands at 850,000 tons per annum, and total investments in the project are said to exceed SR 1 billion. –(MENA Report)
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