(MENAFN) Saudi Basic Industries Corp (Sabic) proclaimed that it had signed a deal with Shenhua Ningxia Coal Industry Corp to construct petrochemical complex in China.
Accordingly, the mutual project would be a "greenfield petrochemical complex" situated in Ningxia Hui area of China.
Sabic also plans to spread its operations geographically and to look for investments that would open up the firm to new markets.
Moreover, the complex would also support Sabic get its feedstock from many sources, which protects it against the variations and cyclical movements.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.