SAUDI ARABIA

NIC to Acquire Stake in SABIC's VCM/PVC Project

The Saudi Minister of Industry and Electricity and Chairman of the Saudi Basic Industries Corporation (SABIC), Mr. Abdulaziz al-Zamil, has given the green light to the recently established National Industrialization Company (NIC) to take an equity stake in the National Plastics Company (Ibn Hayyan), the joint venture set up at the end of 1983 by SABIC (85%) and the Lucky Group of South Korea (15%) to build a petrochemical...