Saudi Basic Industries Corporation (SABIC) has signed a tripartite joint development agreement with Saudi Arabian Oil Company (Aramco) and PKN ORLEN, Poland’s top energy group, to assess the technical and economic feasibility of a potential petrochemical complex in Gdansk, Poland.

In a statement, Abdulrahman Al-Fageeh, acting CEO, SABIC, said that the company’s global presence in chemicals has enabled it to offer customer-focused innovative solutions both in Europe and globally.

“The joint development agreement has embarked SABIC on key steps toward a potential partnership with Saudi Aramco and PKN ORLEN in petrochemicals.”      

Aramco successfully closed three transactions with Polish refiner and fuel retailer PKN Orlen, through its subsidiary Aramco Overseas Company BV, based in the Netherlands, on November 30.

(Writing by D Madhura; Editing by Anoop Menon)