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Sipchem signed with Saudi Industrial Development Fund a loan facility Agreement

November 21/2011

(Plastemart) -- Saudi International Petrochemical Companys (Sipchem) affiliate the International Polymers Company (IPC) has signed with Saudi Industrial Development Fund (SIDF) a SR 600 million loan facility Agreement. The purpose of this loan facility is to support financing of the construction of EVA/LDPE plant. This plant will produce Ethylene Vinyl Acetate (EVA) and Low Density Polyethylene (LDPE) with an annual production capacity of 200,000 metric tons in its industrial complex in Jubail Industrial City.

Perspectives of development of the polymers markets, pricing issues and other important aspects will be discussed at The Polymers Summit-2011, which will be held in Moscow on November 30, 2011 at the Ritz Carlton Hotel. The Summit is organized by MRC with the support of ICIS. The main idea of the Summit is to find a "the golden mean" between producers and converters. When producers receive exactly such margin of production, which helps them to invest in production expansion in order to substitute polymers imports, and the converters receive such price of feedstock that helps them to compete imported finished products. The Summit site gives an access to the live video of the Summit, speakers' presentations, as well as opportunities to ask questions or make appointments to any Summit partcipant.

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