The subsidiaries of Advanced Petrochemical Co. and South Korea’s SK Group have signed a memorandum of understanding (MoU) to conduct a detailed feasibility study for a mixed feed or liquid cracker project in Saudi Arabia.
The MoU signed between Advanced Global Investment Company and SK Gas Co. will be valid for two years, Advanced said in a bourse filing on Wednesday.
The agreement includes conducting a detailed feasibility study, market study of the potential products, assessment of the cost, and development of a financial model.
Advanced said it will continue to announce any material developments, including financial impact, in accordance with the relevant laws and regulations.
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