Sadara Chemical Company, a joint venture of Saudi Aramco and Dow Chemical, launched an Islamic bond sale that could raise at least $1.4 billion to finance a large petrochemical complex in the east of the kingdom. The $19.3bn facility, located at Jubail Industrial City in Saudi Arabia’s Eastern Province, will be the world’s largest chemical complex ever built in a single phase.
Sadara may increase the size of the planned sukuk to $2.5bn depending on market demand, it said in a prospectus for the sale, adding if the company raises more than $1.4bn other sources of financing will be adjusted accordingly………………………………………..Full Article: Source