Sadara Chemical fulfils lenders' conditions for project completion date

Sadara Basic Services Co. said its parent company, Sadara Chemical Co. (Sadara), met the conditions specified by lenders under the Sadara project financing documents to achieve the project completion date.

This is an important milestone marking completion of the Sadara project and come after the satisfaction of the creditors’ reliability test in December 2018, the company said in a statement to Tadawul.

The reliability test is a monitored exercise designed to show that Sadara’s 26 plant chemical complex is operating at full capacity.

According to data available with Argaam, the Sadara project is the largest integrated chemical complex in the world. It consists of 26 factories whose production capacity will exceed 3 million metric tons of chemical products annually.