Saudi Arabia’s Farabi Petrochemicals shortlists banks for $1 billion project: sources

Saudi Arabia’s Farabi Petrochemicals shortlists banks for $1 billion project: sources:

"Saudi Arabia’s privately owned Farabi Petrochemicals Company has shortlisted a group of banks to finance the development of a new petrochemical complex worth 4 billion riyals ($1.07 billion), banking sources familiar with the matter said. The company will borrow around 3 billion riyals for the project, they said. The sources said HSBC is advising Farabi on financing for the new project, which will be built in Yanbu, a port city on Saudi Arabia’s western Red Sea coast which is already home to several refineries and petrochemicals plants."



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