Record Deal Supports 18,000 U.S. Jobs

Photo of KBR engineers, courtesy of The Dow Chemical Company.

The Sadara Chemical Co., a joint venture of Saudi Aramco and Dow Chemical, developed plans for a new petrochemical complex in Saudi Arabia that will produce more than three million metric tons of specialty plastics and other chemical products each year. Building such an advanced complex requires substantial use of high-quality, specifically-designed goods and services. Thanks to a $4.9 billion direct loan from Ex-Im Bank – the largest authorization ever by Ex-Im Bank – Sadara Chemical is using American goods and services from 70 U.S. companies, more than 20 of which are small businesses. Here in America, the result is over 18,000 jobs across 13 states, including Michigan, Pennsylvania and Texas.

"The surest way to grow our economy is to make high-value, innovative products in America and to bring them to market all over the world," said Andrew N. Liveris, chairman and CEO of Dow Chemical. "Ex-Im Bank's action will allow U.S. manufacturers to do just that – to sell equipment and services to the largest industrial complex ever built in a single phase. Thanks to the manufacturing sector's unmatched multiplier effect, this will create thousands of additional jobs across the entire economy."