(MENAFN) Saudi Arabia�s Sahara Petrochemical and Saudi International Petrochemical Co. (Sipchem) stated that they started talks for a merger,reported Arab News.
The companies added that they will carry out a feasibility study in the following 5 months and then seek approval from the regulator and shareholders.
Zamil Holding Company Group owns 7.9 percent of Sahara and 9.6 percent of Sipchem. The group has interests in petrochemicals, housing, construction, steel, and other industrial sectors.
It is worth noting that Sahara makes propylene, polypropylene, ethylene and polyethylene, while Sipchem makes methanol, vinyl acetate monomer, butanediol, acetic acid, carbon monoxide, tetrahydrofuran, and acetic anhydride.
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