Middle East Economic Survey

VOL. XLVIII

No 19

9-May-2005

Uae

IPIC Boosts Holding In OMV Melamine Subsidiary To 50%, Plans Ruwais Plant

Abu Dhabis International Petroleum Investment Corporation (IPIC) has increased its holding in OMV chemicals subsidiary Agrolinz Melamine International (AMI) to 50%, OMV announced on 2 May. The transaction is expected to close in the second half of the year and will allow OMV to concentrate on its three core interests: oil upstream, refining and marketing and gas....