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Sahara announces that one of its affiliates Alwaha Petrochamical Company signed a Financing Agreement

Sahara 2260 1.16% 17.46 0.20
Sahara Petrochemicals Company announces that ALWAHA Petrochemical Company, one of its affiliates, has signed A Working Capital Financing Agreement with The Saudi Fund for Development within (The Saudi Export Program) as per the following: 1. Financing was signed on 23/11/2015G. 2. Term financing amount of USD 70 million (SAR 262,500,000). 3. Duration of financing from 23/11/2015 to 22/11/2020. 4. The purpose of the financing is to finance the working capital. 5. Loan guarantee: Order Notes by ALWAHA Petrochemical Company 6. Loan Duration Five Years. It is worth mentioning that Sahara Petrochemicals Company holds 75% and Basell Arabia Investments Limited holds 25% in ALWAHA Petrochemical Company. This loan is to market the petrochemical products by the Saudi Fund for Development within the Saudi Exports Program. It also confirms the financial solvency of Sahara Petrochemicals Company.

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