Saudi Basic Industries Corp. — Capital/Financing Update 2015

Jul 5, 2015

ADDENDUM ANNOUNCEMENT FROM SABIC CONCERNING THE SIGNING OF A 50-50 JV AGREEMENT WITH SK GLOBAL CHEMICAL FOR THE PRODUCTION OF HIGH PERFORMANCE POLYETHYLENE USING NEXLEN TECHNOLOGY

2010 · 05/07/2015 08:00:34 · Announcement #39101 · View on Saudi Exchange

ADDENDUM ANNOUNCEMENT FROM SABIC CONCERNING THE SIGNING OF A 50-50 JV AGREEMENT WITH SK GLOBAL CHEMICAL FOR THE PRODUCTION OF HIGH PERFORMANCE POLYETHYLENE USING NEXLEN TECHNOLOGY

Addendum to the company announcement on Tadawul website on 26-5-2014 concerning the signing of its affiliate (SABIC Industrial Investments) in a 50-50 agreement joint venture project with Korean Global Chemical Company Ltd based in Singapore to manufacture high performance polyethylene products using Nexlene technology, the company would like to announce the completion of all the requirements to forming the company, and reaching the financial closing stage today 3/7/2015 with a total investment about US$ 640 million for the technology and the plant construction, with self-funding and commercial loans. The financial impact can not be identified, and any essential developments will be announced in due time

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