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Sahara & Maaden Sign Agreement for CA-EDC Complex

Source: www.gulfoilandgas.com 5/8/2011, Location: Middle East

Sahara declares that it has signed the following agreements with Saudi Arabian Minding Company (Maaden) , this project will be financed through SIDF and commercial banks loans.

- Shareholders Agreement:It is between Sahara Petrochemicals Company and Saudi Arabian Mining Company (Maaden)to build CA-EDC complex in Sahara Petrochemicals Company site located in Jubail Industrial City with an investment of USD 750 Million.

- Off take Agreement: To supply all the produced quantity of concentrated caustic soda to Maaden to be utilized in its alumina refinery project in Ras Alzur.

It is worth mentioning that the project capacity is 250,000 tpa of concentrated caustic soda and 300,000 tpa of EDC. Sahara and Maaden shall hold 50% of the projects capital for each. The project shall utilize UHDEs technology of Germany and it will be completed by the 4th quarter of 2012.

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