Feb 12 2012 |
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SABIC,Sinopec In Talks With Trinidad To Build $5.3B Methanol Complex
Sunday, Feb 12, 2012
RIYADH (Zawya Dow Jones)-- Saudi Basic Industries Corp. (2010.SA), or Sabic , and China Petrochemical and Chemical Corp. (SNP), or Sinopec, have agreed to start negotiations with Trinidad and Tobago to possibly build a $5.3 billion methanol complex in that country, according to the world's largest petrochemical maker by market value.
Sabic and Sinopec together were selected by Trinidad and Tobago over other international bidders, Sabic said in a statement posted on the Saudi bourse website Saturday.
The approval is for the start of negotiations on establishing the complex, and is not binding for either side, the statement added.
-By Ellen Knickmeyer, Dow Jones Newswires, +966 1 2795252, ellen.knickmeyer@dowjones.com
(END) Dow Jones Newswires
12-02-12 1036GMT
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Comments By Our Users (1)
Know the Chinese Co., operated Saudi Arabia are growing very fast in the Market so it's normal that they start negotiations.
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