Advanced signs framework agreement with Shareek to maximize local investment plan

A production line at Advanced Petrochemical's plant

Advanced Petrochemical Co. signed, on March 1, a support framework agreement with Shareek Program, it said in a statement on Tadawul.

The program will support Advanced to maximize its local investment plan, as it was chosen as one of the companies eligible to participate in Shareek.

The agreement defines the company's eligibility criteria to receive Shareek support programs for accelerating its local investment plan under the terms of the framework agreement.

The company indicated that the eligibility obligations expire on Dec 31, 2030, noting that there is no financial impact on the current operations and ongoing projects.

There are no related parties to this agreement, Advanced stated.