Middle East Economic Survey

VOL. LII

No 33

17-Aug-2009

SAUDI ARABIA

SABIC And Mitsubishi Plan Joint $1Bn Petrochemical Plant

Saudi Basic Industries Corporation (SABIC) and Japans Mitsubishi Rayon Company on 10 August announced that they had signed a letter of intent (LOI) to establish a 50-50 petrochemical joint venture in Saudi Arabia. The LOI covers the principal terms of the proposed business, including the structure of the joint venture, technology used, marketing and feedstock supply....