Saudi Kayan has sought financial assistance to cover a $2.4bn rise in the building costs for a production complex in Jubail, Saudi Arabia.
The petrochemical company said by March it had spent SAR35.4bn ($9.4bn) on the construction of the complex, which will have an annual production capacity of four million tons of petrochemical and chemical products.
Kayan chairman Mutlaq al-Morished said the company would organise a loan with help from its shareholders, which includes Sabic.
The company expects the gross cost of the project to rise by approximately 24%, or around SAR9bn ($2.4bn).
The olefins plant, which is part of the complex, has started a trial production while 15 out of 16 units of the complex are expected to start operations before the end of 2011, according to Reuters.
