Saudi Arabia’s Jubail United Petrochemical Co. (JUPC) has inked a Sharia-compliant credit facility with Bank Albilad for SAR 1.125 billion ($300 million), the bank said in a statement.

 

JUPC is 75 percent owned by Saudi Basic Industries Corporation (SABIC), 15 percent by Public Pension Agency, and the remaining 10 percent by The General Organization for Social Insurance (GOSI).

 

The facility agreement will boost the company’s infrastructure and strategic goals in line with Saudi Vision 2030, the statement added.

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