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WorldPosted at: May 30 2016 9:47PM


Saudi's SABIC agrees petrochemicals project with China's Shenhua

DUBAI, May 30 (Reuters) Saudi Basic Industries Corp (SABIC), one of the world's largest petrochemicals groups, said on Monday it had signed an agreement with Shenhua Ningxia Coal Industry Group to build a petrochemical complex in China.
SABIC said in a statement the joint project would be a "greenfield petrochemical complex" located in the Ningxia Hui Region of China. The Chinese company is a unit of Shenhua Group Corporation Limited.
No financial details or time frame for the project were given. SABIC said the companies would now work on getting approvals from Chinese authorities for the complex.
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