Negotiations have reached an advanced stage between SABIC and Kayan Petrochemicals - a Saudi firm. Earlier, the two firms signed an initial MoU appointing SABIC as a strategic partner in Kayan's SR30 billion petrochemical project. As per the MoU, SABIC was required to review all works, studies, agreements and update the project's feasibility study in not more than two months but the deadline of the MoU elapsed before the results of SABIC's studies were announced. SABIC and Kayan are supposed to sign a final agreement after they agree on these results. Despite the agreement, there still are disagreements on details such as the stake of each company in the project.
24-Apr-06 
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