Project Finance for Expanding the Rabigh Integrated Oil Refining and Petrochemical Plant
Supporting the overseas business deployment of the Japanese petrochemical industry

  • Area: The Middle East
  • Manufacturing and Services
  • [Project Finance]

JBIC concluded a project finance loan agreement with Saudi Arabia-based Rabigh Refining & Petrochemical Company (Petro Rabigh) to provide funds for the expansion of the Rabigh Integrated Oil Refinery and Petrochemical Plant (Rabigh Phase II Project). Both Sumitomo Chemical Company, Limited (Sumitomo Chemical) and Saudi Arabia-based Saudi Arabian Oil Company (Saudi Aramco) have stakes in Petro Rabigh. The project will expand its existing plant (Rabigh Phase I Project)*1 and produce high-added-value petrochemical products, which will then be sold by Sumitomo Chemical and Saudi Aramco. Sumitomo Chemical seeks to increase its profitability through economies of scale and cost competitiveness helped by the location of the site with the raw materials.
  1. *1JBIC concluded a project finance loan agreement with Petro Rabigh related to the Rabigh Phase I Project in 2006.
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