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Sadara Chemical Company Transaction is Awarded Ex-Im Bank Deal of the Year

posted Apr 4, 2013, 10:26 PM by Jignesh Ajmera
WASHINGTON, April 4, 2013 /PRNewswire via COMTEX/ -- Transaction will sustain more than 18,000 American jobs

Sadara Chemical Company (Sadara), a joint venture developed by the Saudi Arabian Oil Company (Saudi Aramco) and The Dow Chemical Company (Dow), today received the 2013 Deal of the Year award from the Export-Import Bank of the United States (Ex-Im Bank). The award was presented at Ex-Im Bank's 38th Annual Conference in Washington, D.C.

In September, 2012, Ex-Im Bank approved a $4.975 billion direct loan to Sadara- the largest in Ex-Im Bank's history - for the export of American goods and services required in the construction of a world-scale integrated chemicals complex in Jubail Industrial City II in the Kingdom of Saudi Arabia. Of the total loan amount, over $600 million will be used to purchase goods and services from U.S. small businesses, also a record for a single transaction.