SAUDI ARABIA

Saudi Businessmen Set Up Petrochemicals Investment Company

A new company -the Saudi Venture Capital Group (SVCG) - has been set up in Jiddah by more than 26 Saudi businessmen, including some billionaires, to help the Kingdom expand its petrochemical investments, according to Saudi press reports. SVCG has chosen as technical advisor Fluor Arabia Ltd. -a joint venture of E.A. Juffali and Bros. of Saudi Arabia and Fluor of the US. The Saudi Government has reportedly urged the...