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Al-Benyan ... new greenfield complex.

Sabic chemicals project in China to cost up to $4bn

AL KHOBAR, September 1, 2016

Saudi Basic Industries Corp (Sabic) expects its coal-to-chemicals project in China with Shenhua Ningxia Coal Industry Group to cost $3 billion to $4 billion, its acting CEO told Al Arabiya TV on Thursday.

"The project is approximately $3-4 billion and we expect it to be ready in 2020," Yousef Al-Benyan said.

Sabic signed the agreement in May. The joint project would be a "greenfield petrochemical complex" located in the Ningxia Hui Region of China and would help the Saudi company diversify its feedstock sources.  - Reuters




Tags: sabic | China | chemicals |

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