UK Export Finance Pledges $700M For Saudi Chem Complex

Law360, New York (June 24, 2013, 5:27 PM EDT) -- The U.K.'s export credit agency, U.K. Export Finance, on Friday said it will guarantee $700 million in financing to British companies bidding for contracts on a $19 billion petrochemical plant project created by a Dow Chemical Co. and Saudi Arabian Oil Co. joint venture.

UKEF says its support package for Sadara Chemical Co's petrochemicals production complex is the largest project finance facility in its history, and says three British companies — Jacobs Engineering Group Inc., Fluor Corp. and Foster Wheeler AG — have obtained contracts that...
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