SABIC carbon neutrality could cost up to $4bln, says CEO

The company announced plans to meet carbon neutrality by 2050

  
Acting chief executive of Saudi Basic Industries Corp (SABIC) Yousef Abdullah al-Benyan speaks during a news conference in Riyadh, Saudi Arabia April 19, 2016. REUTERS/Faisal Al Nasser

Acting chief executive of Saudi Basic Industries Corp (SABIC) Yousef Abdullah al-Benyan speaks during a news conference in Riyadh, Saudi Arabia April 19, 2016. REUTERS/Faisal Al Nasser

REUTERS/Faisal Al Nasser

DUBAI  - Petrochemicals giant Saudi Basic Industries Corp's (SABIC) chief executive, Yousef Abdullah al-Benyan, on Thursday said it will cost the company $3 billion to $4 billion to achieve its carbon emissions neutrality target.

The company on Saturday announced plans to meet carbon neutrality by 2050. 

"We anticipate this will initially cost between $3bln to $4 bln," al-Benyan said in a news conference after the company published third-quarter financial results.

(Reporting by Hadeel Al Sayegh Editing by David Goodman) ((Hadeel.AlSayegh@thomsonreuters.com; +971566883310;))


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