Saudi Arabia's PetroRabigh has signed loans worth around SR19.4 billion ($5.2 billion) for the expansion of its petrochemicals complex in the kingdom, it said on Tuesday.

The loans include SR7.5 billion from the Japan Bank for International Cooperation and SR4.9 billion from the state-owned Public Investment Fund. The rest of the money was in the form of loans from local and international banks, it said in a statement.

The total cost of the project, known as Rabigh Phase II, is now estimated at SR30 billion, it said.

The firm is a joint venture between Saudi Aramco and Sumitomo Chemical. - Reuters