VOL. XXXI

NO. 3

26-OCTOBER-1987

SAUDI ARABIA

Saudi Group Awarded Licenses for Petrochemical Projects

The Saudi Ministry of Industry and Electricity has granted three industriallicenses to the Saudi Venture Capital Group (SVCG) to set up petrochemicalprojects in the Kingdom with a total investment of SR1.33bn ($354.6mn). SVCG,which groups 26 of Saudi Arabia's richest businessmen, was formed in January1986 and hired Fluor of California as consultant (MEES, 27 January 1986). Thethree projects consist...