Saudi Basic Industries Corp (SABIC) mulls deal with Saudi AramcoSaudi Aramco for refinery upgradation and a new petrochem complex

15-Jan-08
Saudi Basic Industries Corp (SABIC)Saudi Basic Industries Corp (SABIC) is considering a deal with Saudi Aramco for a Red Sea Coast refinery upgradation and to build a petrochemicals complex at Yanbu. SABIC is also considering the US$500 mln planned Osos Petrochemicals Company polybutylene terepthalate complex at the same location, which will also have butanediol and maleic production units. This deal allow SABIC access to Aramco feedstock from Saudi Aramco and go ahead with further development plans without a foreign partner.
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