Riyad Bank Finances SABIC Project

RIYADH, 27 July 2005 — The Saudi Company for Iron and Steel signed a SR937 million agreement with Riyad Bank for seven years to finance part of the company expansion project, Al-Eqtisadiah reported. The steel company began the current expansion last year after finished detail analysis study for the market. It is expected that the production capacity would increase from 25 million tons to 30 million tons.