Saudi Kayan in bid to secure $2.4bn loan
Riyadh, July 25, 2010
Petrochemical firm Saudi Kayan is trying to secure loans from one or several banks to cover a SR9 billion ($2.4 billion) rise in the cost of its plants.
'It is expected that the gross cost of the project will rise by approximately 24 per cent or around 9 billion riyals,' it said in a statement posted on the bourse website.-Reuters
