Hyundai, Samsung, Technip Energies and Tecnicas Reunidas are competing to construct a chemicals complex in the Suez Canal Economic Zone
Demand for products from plastics to paint has soared in the past year with economies recovering from the coronavirus pandemic
The investment in Abu Dhabi Chemicals Derivatives Company, known as Ta’ziz, is part of an Dhs8bn strategy announced last week
Revenue climbed 72 per cent year-on-year to $11.3bn
The integrated plant will produce 940 thousand tons of chlor-alkali, 1.1 million tons of ethylene dichloride and 360 thousand tons of PVC annually
It has increased its tank storage capacity from 42,000 CBM to 72,000 CBM, at a total investment of Dhs55m
SABIC suspended new capital spending earlier this year as it reported losses in the first and second quarters
Saudi Arabia is seeking to diversify its economy away from petroleum by building new industries
SABIC generated second-quarter sales of SAR24.62bn, down 29 per cent from the previous year
Aramco will push back the bulk of installments until after 2022 and delay the final one by three years until 2028
Aramco will pay $24.8bn this week as a first installment in the deal
Aramco is weighing pushing out payments for the 70 per cent holding in SABIC and reducing the size of the initial installment to PIF
The company’s first-quarter sales dropped 18 per cent to SAR30.83bn