Saudi Arabia, along with a coalition of Gulf states, is conducting airstrikes against Houthi rebels in Yemen.
The plant, located in Jubail Industrial City, will manufacture up to 63,000 tonnes per year of polybutylene terephthalate (PBT) resin.
The fund provides working capital to small businesses focusing on agricultural commodities, energy and metals, a segment often neglected by Islamic lenders.
The strike are aimed at stopping the Houthis from taking more territory and pressing them to negotiate a power-sharing deal with President Abd-Rabbu Mansour Hadi.
Prince Saud K. Al Faisal said that under a new programme, the government would propose investments linked to such state spending plans.
Yemen’s state news agency Saba, which is under the control of the Houthis, said the camp at Haradh was hit by Saudi planes.
The conditions for the talks would include returning weapons to state authorities and not threatening the security of Yemen’s neighbours.
The loan will replace an existing $4 billion facility due to mature later this year.
Pakistan, an ally of Saudi Arabia, has yet to commit itself publicly to military support to Riyadh’s campaign in Yemen.
The plant will make 200,000 tonnes per year of polyethylene and EVA, two forms of plastics.
Police are conducting an investigation into the shooting, which came from a car.
Saudi and nine other Sunni Muslim countries commenced air strikes against the Shi’ite Houthi militia on March 26.
An official said that strikes had succeeded in stopping the Houthi advance on Aden and in putting pressure on the group across the country.
In separate comments, Saudi Arabia said it was committed to completing its air campaign aimed at dislodging Iranian-backed Houthis rebels.
Saudi Foreign Minister Prince Saud al-Faisal has accused Russian President Vladimir Putin of hypocrisy.
Saudi-led coalition warplanes struck military targets at airports in the capital Sanaa and in Hodeida, the main Red Sea port.
The victims were in the provinces of Sanaa, Saada and Hodeidah, an official in the Houthi-controlled health ministry said.
Saudi Kayan had said earlier that it would shut several units at its petrochemicals complex in Jubail for about five weeks.
In his remarks, Badawi recalled how he received the first round of lashes while surrounded by a cheering crowd that chanted “Allahu akbar” (God is greatest).
Success would establish Riyadh as de facto leader of the region’s Sunni states it has pulled together in a complex armed operation.
Saudi Arabia withdrew its envoy earlier this month over Swedish criticism of the monarchy’s treatment of women and dissidents.
Billions of dollars of Saudi money may be withdrawn from Western banks and financial markets this year as the country copes with a sharp reduction in its revenues.
The conflict could potentially damage Bab el-Mandeb passage through which nearly 4 million barrels of oil are shipped daily to Europe, the United States and Asia.
The airports affected include Jizan, Abha and Wadi al- Dawaser, the General Authority of Civil Aviation said.
The decision to send troops to Yemen to support the Gulf states’ operation is being examined by Pakistan, an official said.
The fire in October 2014 caused “significant” damage at one of Almarai’s bakeries in Jeddah, the company said at that time.
Subscription for the initial public offering will open on April 22 and run until April 28.
The plant, in Jubail, is operated by Sahara & Ma’aden Petrochemicals Co (SAMAPCO) and will be offline for 25 days from April 1.
Dar Al Arkan chairman Yousef al-Shelash said that he did not expect the tax to be applied to this land, since the company was in the process of developing it.
The armor and artillery being moved by Saudi Arabia could be used for offensive or defensive purposes, two U.S. government sources said.