Tuesday, Nov 13, 2012
(This article was first published on Monday)
BEIRUT (Zawya Dow Jones)--Petrochemical giant Saudi Basic Industries Corp. (2010.SA), or Sabic, has agreed with Shell to expand their partnership through their Saudi Arabia Petrochemical Co., or Sadaf, joint venture.
Sabic said the two companies will jointly conduct studies for a styrene monomer propylene oxide, or SMPO, project and the polyols project before making a final decision.
"Sabic and Shell have also agreed to build on their strong long-term relationship to explore international petrochemical opportunities beyond Sadaf and Saudi Arabia," the mainly state-owned company said in a statement posted on the Saudi bourse website on Monday.
Sadaf is located in Saudi Arabia's Jubail Industrial city, according to the statement.
Write to Shikrallah Nakhoul at shikrallah@zawya.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
13-11-12 0331GMT
