Saudi Kayan Petrochemical Company (Kayan) made a net loss of SAR8.33m ($2.22m) for the first quarter of 2011 and in March announced it had signed a SAR2bn ($533.3m) loan deal to cover construction costs. The loan, which is to fund part of the additional costs of its complex in Jubail Industrial City, was guaranteed by Saudi Basic Industries Corp (Sabic), the firm’s main shareholder.