Tasnee receives financing for JV ethylene expansion project
Tasnee announced that the Saudi Ethylene and Polyethylene Company, a Joint Venture of Tasnee & Sahara Olefins Company (TSOC), of which Tasnee owns 60%, has obtained Shariah-compliant financing (long-term Murabaha financing) from Bank Albilad.
Date of Obtaining the Financing: 26 / 01 / 2026
Financing Entity: Bank Albilad.
Financing Amount: SAR 1,700 million (One billion seven hundred million Saudi Riyals).
Financing Tenor: 12 years (including a two-year grace period).
Collateral Provided for the Financing:
• Promissory notes issued by the Saudi Ethylene and Polyethylene Company for the full value of the credit facilities.
• Guarantees provided by the shareholders covering the full value of the credit facilities.
Purpose of the Financing: Financing Ethylene Cracker Expansion Project at the Saudi Ethylene and Polyethylene Company.
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