SAUDI ARABIA

 

SABIC And ExxonMobil Give Green Light To $3.4Bn Kemya Petchem Project

Saudi Basic Industries Corporation (SABIC) and ExxonMobil are to proceed with a specialty elastomers (synthetic rubber) project at their existing Kemya site in Jubail, they announced on 25 July. The $3.4bn project will be financed by the two shareholders and through third party debt. HSBC is their financial adviser, MEES understands. The project is scheduled for completion in 2015 with a total...