Russia's Sibur plans JV in Saudi Arabia by year-end: report

21/02/2019 Argaam

 

Sibur Holding, Russia’s largest petrochemical producer, is planning on a potential joint venture in Saudi Arabia, Bloomberg reported on Thursday, citing CEO Dmitry Konov.

 

The company will decide on a joint venture with Saudi Arabia by the end of 2019, he added.

 

State-owned Saudi Aramco started talks with Sibur in 2017 on plans for a synthetic-rubber plant in the Kingdom as part of its strategy to expand in petrochemicals.

 

"The Saudi facility would start up in 2023 to 2025," Konov added.

 

Meanwhile, the petchem major is also considering the possibility of a joint venture in China with Sinopec, the CEO revealed.

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