SABIC To Form Partnership With Saudi Aramco

Published: Nov 26 2017
Deal Summary

Saudi Basic Industries Corporation (SABIC), a petrochemical products manufacturing company, signed a memorandum of understanding to form joint venture with Saudi Arabian Oil Company (Saudi Aramco), an oil company, to build complex converting crude oil to chemicals in Saudi Arabia.

The complex would have produced chemical products directly from crude oil. The project would have cost up to US$20,000 million (MM). The complex would process about 400,000 bd of light crude oil to make about 9 million tonnes of chemicals and base oils a year, plus 200,000 bd of diesel for domestic use.

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