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SATORP Completes Financing for Jubail Refinery
June 28, 2010 – Saudi Aramco Total Refining and Petrochemical Company (SATORP), a joint venture owned by Saudi Aramco and French Total, recently completed financing for its $8.5 billion (SR31.88 billion) for its planned crude oil refinery in Jubail. Loans worth $4.49 billion (SR16.84 billion) came from local, regional, and international banks, including The Saudi Investment Bank, JP Morgan, Citibank, The National Commercial Bank, Gulf International Bank B.S.C., Riyad Bank, Samba Financial Group, and Arab National Bank. The remaining $4.01 billion (SR15 billion) of funding for the project was provided by the Public Investment Fund and Export Credit Agencies.
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