Saudi's Sadara signs $3.77bn power deal with state utility

Agreement will see Saudi Electricity Co supplying power to Sadara's chemicals complex in Jubail Industrial City
Saudi's Sadara signs $3.77bn power deal with state utility
By Reuters
Tue 07 Jul 2015 02:14 PM

Saudi Arabia's Sadara Basic Services said on Tuesday that its parent firm signed a 14.13 billion riyal ($3.77 billion) deal with Saudi Electricity Company to supply electric power to its chemicals complex in Jubail Industrial City.

The agreement signed by Sadara Chemical Company, the parent company of Sadara Basic Services, has a 20 year renewable term, a statement from Sadara said.

Sadara Chemical Company is a $20 billion joint venture between state-oil giant Saudi Aramco and Dow Chemical Company.

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