State-led petrochemicals conglomerate Sabic has outlined plans for future investments including a number of projects not previously disclosed. The list includes six key projects with a combined capacity of 13.14mn t/y, primarily located in Saudi Arabia, but also one each in China and the US.
The standout project is a JV with state petroleum firm Aramco – which is slated to conclude the $69.1mn purchase of the 70% of Sabic’s shares owned by government by the end of next month – to build a crude oil to chemicals (COTC) project with capacity to deliver 9mn t/y of chemicals as well as base oils. The plant will be located in the Red Sea downstream hub of Yanbu (MEES, 28 June 2019). (CONTINUED - 638 WORDS)