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
