IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
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Inception date: 25 Jun 2010 | Removal date: open ended
Still in force

Trade finance

 On 25 June 2010, the French company Total announced that it had secured financing of 8.5 billion USD for a petroleum project in the Saudi city of Jubail. The project is conducted in a joint venture with the Saudi state-owned company Aramco (Saudi participation 67.5%, Total 32.5%). It shall produce benzene, diesel, paraxylene and polymers of propylene. 
Out of the 8.5 billion USD, 4 billion USD were secured from export promotion agencies and a public investment fund. These included the French, German, Japanese, Korean and Spanish Eximbanks.
A state measure in the GTA database is assessed solely in terms of the extent to which its implementation affects the extent of discrimination against foreign commercial interests. On this metric, the state aid proposed here is discriminatory.
 

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

345 Miscellaneous basic chemical products
2707 Oils and other products of the distillation of high temperature coal tar; similar products in which the weight of the aromatic constituents exceeds that of the nonaromatic constituents.
270710 Benzol (benzene)
270720 Toluol (toluene)
270730 Xylol (xylenes)
270740 Naphthalene
270750 Other aromatic hydrocarbon mixtures of which 65 % or more by volume (including losses) distils at 250 ?C by the ASTM D 86 method
270791 Creosote oils
270799 Other

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