SABIC, Sinopec commence negotiations with Trinidad for methanol plant

Saudi Basic Industries Corp (SABIC) and China Petroleum & Chemical Corp (Sinopec) have commenced negotiations with Trinidad and Tobago to build a US$5.3 bln methanol complex, as per Reuters. Approval was granted to SABIC and Sinopec on Feb. 9, after bidding against other international companies. This approval marks the launch of negotiations to build the complex and is not binding to either side until final agreement is reached.
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