January 28, 2026 [Zawya]- Saudi Ethylene and Polyethylene Company (SEPC), a joint-venture partly owned by Saudi-listed National Industrialisation Company (Tasnee), has secured a loan worth SAR 1.7 billion ($453.3 million) from Bank Albilad.
The Murabaha financing will be used to fund the JV firm’s ethylene cracker expansion project, Tasnee confirmed on Monday.
SEPC is a joint venture between Tasnee Sahara Olefins Company (TSOC), of which Tasnee owns 60 %, and LyondellBasell.
The financing deal will run for 12 years and includes a two-year grace period before repayments start.
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