Mining company received loan to finance a caustic soda project in Jubail
Saudi Arabian Mining Co Maaden said on Tuesday it had received a $240 million from state run Saudi Industrial Development Fund (SIDF) to finance a caustic soda project in Jubail.
The project is a joint venture between the state run miner and Sahara Petrochemicals Co and has a production capacity of 250,000 tonnes per year of caustic soda and 300,000 tpy of ethylene dichloride.
The project is to be completed by the end of 2012, Maaden said in a statement on the bourse website.
Caustic soda is a feedstock used for the refining of bauxite to alumina. (Reuters)