Sabic plans to invest in Asian countries in its second round of investments

02-May-08
Sabic, the Saudi petrochemicals group that spent over US$20 bln in the past five years, plans to invest in Asian countries, particularly India for its next cycle of investments. Asia has become an increasingly important market for the petrochemicals industry, accounting for 60% of Sabic's business. Sabic has received regulatory approval to launch a sukuk (Islamic bond) to raise up to US$1.34 bln.
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