UAE

SEDC to Acquire 5% in Sharjah LPG Project

The Sharjah Economic Development Corporation (SEDC), a public limited liability company formed in 1982 to promote industrial growth in Sharjah, is to take a 5% stake in the Sharjah Liquefaction Company (Shalco) which is currently implementing a $300mn LPG/LNG project utilizing associated gas from the onshore Saaga field. Shalco is owned 60% by the Sharjah Government, 25% by the Amoco Sharjah Oil Company and 7.5% each by C. Itoh and Tokyo Boeki...