Saudi Basic Industries Corp. — Capital/Financing Update 2019

Jun 13, 2019

Saudi Basic Industries Corporation (SABIC) announces the latest developments of establishing a petrochemical joint venture project with ExxonMobil in the U.S. Gulf Coast

2010 · 13/06/2019 08:12:53 · Announcement #55284 · View on Saudi Exchange

Saudi Basic Industries Corporation (SABIC) announces the latest developments of establishing a petrochemical joint venture project with ExxonMobil in the U.S. Gulf Coast

Element List	Explanation
Introduction	(SABIC) announces that it has obtained all necessary regulatory approvals including environmental permits to establish a petrochemical joint venture project with Exxon Mobil in the U.S. Gulf Coast.

(SABIC) expects that this project will have a positive impact on its consolidated financial statements. The financial impact will be reflected after the commercial operation and project completion. Date of previous announcement 2018-05-01 Corresponding to 1439-08-15 Progress % NA Expected completion date of the event NA Reasons for exceeding the announced end date NA Expenses related to the event and whether it changed or not with the justification There is no change in the scope of the project and therefore the associated costs have not changed. Impact of delay on the company’s financial results NA

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