Saudi Aramco Total Refining and Petrochemical Company (Satorp) said on Wednesday it had obtained a SR2 billion ($533.33 million)loan from the state-affiliated Saudi Industrial Development Fund.

The company said it expected to draw the 7.5 year loan in a single disbursement on or around August 28. Satorp, a 400,000 barrel per day refinery, is a joint venture between Saudi Aramco and Total. -Reuters