Saudi Basic Industries Corp. — Capital/Financing Update 2012

Jun 9, 2012

The Arabian Petrochemical Company (Petrokemya) ,(SABIC) affiliate, signed a Letter of Intent for the design, supply and construction of a new Acryilonitrile Butadiene Styrene (ABS) Plant

2010 · 09/06/2012 09:15:33 · Announcement #26093 · View on Saudi Exchange

The Arabian Petrochemical Company (Petrokemya) ,(SABIC) affiliate, signed a Letter of Intent for the design, supply and construction of a new Acryilonitrile Butadiene Styrene (ABS) Plant

The Arabian Petrochemical Company (Petrokemya) ,One of Saudi Basic Industries Corporation (SABIC) affiliate, signed, on June 6th 2012, a Letter of Intent (LOI) with Tecnicas Reunidas (TR) , Spain for the Engineering Procurement and Construction (EPC) of a new Acryilonitrile Butadiene Styrene (ABS) Plant at its complex in Al-Jubail Industrial City. The total investment is expected to reach 561 million dollar & the company is planning to finance it from its own resources. The ABS project is expected to be mechanically completed during the 4th quarter of 2014 with a total annual capacity is expected to reach 140 KTA of a variety of grades of product supporting the automotive industry, electrical appliances and the other products.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.