Saudi Basic Industries Corp. — Capital/Financing Update 2016

Jul 25, 2016

SABIC announces that it is considering the potential development of a jointly owned petrochemical complex with an affiliate of Exxon Mobil Corporation in the U.S. Gulf Coast

2010 · 25/07/2016 15:03:53 · Announcement #43267 · View on Saudi Exchange

SABIC announces that it is considering the potential development of a jointly owned petrochemical complex with an affiliate of Exxon Mobil Corporation in the U.S. Gulf Coast

Saudi Basic Industries Corporation announces that it is studying the potential development of a jointly owned petrochemical complex with an affiliate of Exxon Mobil Corporation in the U.S. Gulf Coast. The potential petrochemical complex would also include an Ethylene Production Unit, which will supply Ethylene to other units to produce Ethylene derivatives. This study is in line with SABICs strategy to geographically diversify its operations and to further its position in global markets. The two parties will conduct necessary studies and evaluations to assist each company in reaching a final investment decision on development of the potential complex. SABIC will follow relevant regulations, if it decides to proceed with the project.

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