The PCD follows successful passing in December 2018 of the Creditors Reliability Test (CRT) – a monitored exercise designed to show that Sadara’s 26-plant chemical complex is operating at full capacity. Sadara was the first Saudi Aramco joint venture to pass the CRT on its initial attempt.
In a statement, Sadara said that it has delivered on all of the project’s operational targets and now Sadara and its shareholders are working with lenders to reprofile its outstanding debt to achieve a sustainable capital structure.
Sadara’s financial reprofiling will have no effect on company operations.
