Saudi Basic Industries Corp. — Capital/Financing Update 2013

Mar 3, 2013

Follow up statement from SABIC on obtaining (SABIC and Sinopec Chinese) the acceptance by the Government of the Republic of Trinidad and Tobago to engage in negotiations for the manufacture of petrochemicals

2010 · 03/03/2013 15:48:35 · Announcement #29338 · View on Saudi Exchange

Follow up statement from SABIC on obtaining (SABIC and Sinopec Chinese) the acceptance by the Government of the Republic of Trinidad and Tobago to engage in negotiations for the manufacture of petrochemicals

With reference to SABIC announcement on TADAWUL dated 11/2/2012 about acceptance the Government of the Republic of Trinidad and Tobago to engage in the negotiations for the manufacturing of petrochemicals with (SABIC and Sinopec Chinese) to implement of a complex for the production of methanol converted to olefins in Trinidad and Tobago at an estimated cost of about U.S. $ 5.3 billion, SABIC announces that the relevant parties did not reach a deal on the fundamental conditions for this project and SABIC's decision in consultation with the concerned parties on 3/3/2013 not to continue the negotiations on this project.

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