SABIC inks MoU to develop petrochemical complex in China

11/09/2018 Argaam

 

Saudi Basic Industries Corp. (SABIC) on Tuesday signed a memorandum of understanding (MoU) with Fujian Provincial Government in China to develop a world scale petrochemical complex in Fujian.

 

The preliminary agreement will remain in effect for an indefinite period of time, the petrochemical giant said in a bourse statement.

The MoU comes as part of SABIC's strategy to diversify its operations, seek new investments and strengthen its position in the Chinese market.

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