(MENAFN) Saudi International Petrochemical Co (Sipchem) is set to invest USD100.2 million in two domestic affiliate companies, a corporate statement said on Wednesday, Reuters reported.
The sum is going to be entirely dedicated to purchase stakes for Kuwait's Ikarus Petroleum Industries Co in International Acetyl Company and International Vinyl Acetate Company.
The two firms run plants for production of acetic acid and acetic anhydride and vinyl acetate monomer and are situated in Saudi Arabia's Jubail Industrial City.
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