SAUDI ARABIA

Saudi-European Petrochemical Joint Venture Set up; EEC Warned about Tariffs

 A formal agreement to set up the Saudi-European Petrochemical Company a joint venture owned 70% by the Saudi Basic Industries Corporation (SABIC), 10% each by the Arab Petroleum Investments Corporation (Apicorp), Enichem of Italy and Neste Oy of Finland was to be signed on 16 December, according to an announcement by SABIC last week. The new joint venture will build a $500mn-600mn plant to...