Putin says Sibur Holding eyes $1 bln petrochemical complex in Saudi Arabia
Russia’s largest petrochemical company, Sibur, is considering building a petrochemical complex in Saudi Arabia with more than $1 billion in investments, Al Arabiya TV has reported, citing Russian President Vladimir Putin before his visit to the Kingdom on Monday.
The Russian Direct Investment Fund (RDIF) has a $10 billion investment partnership with the Public Investment Fund (PIF), more than $2.5 billion already invested in projects, the President told Al Arabiya, Sky Nеws Arabia and RT Arabic.
Sibur is a supplier of petrochemical products to chemical, automotive and construction industries, among others.
Russia and Saudi Arabia have so far funded and approved bilateral projects worth $2.5 billion across several sectors, including artificial intelligence, infrastructure, transport, and medicine.