Sadara Chemical signs guarantee for 50% of SHPCO loan

22/05/2017 Argaam

Sadara Basic Services said its parent company, Sadara Chemical Co., has inked a guarantee for 50 percent of payment obligations of Saudi Hydrogen Peroxide Co. (SHPCO).

 

The guarantee is related to a SAR 1.13 billion loan to be issued to Saudi Hydrogen Peroxide Co by a Saudi commercial bank, the company added in a statement to Saudi bourse, Tadawul.

 

Saudi Hydrogen Peroxide, is a special purpose joint venture between Sadara Chemical Co. (Sadara) and the Solvay Group (Solvay), constructing one of the world’s largest hydrogen peroxide (HP) plants in the Kingdom, which supply Sadara with the raw material for the HP-to-propylene oxide (HPPO) manufacturing plant on the site.

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