Middle East Economic Survey
VOL. XLVIII
No 29
18-July-2005
Uae
IPIC, Chinese Petroleum Corp Ink MOU For Two Petrochemical Complexes
Abu Dhabi-based International Petroleum Investment Company (IPIC) has signed a memorandum of understanding (MOU) with Taiwans Chinese Petroleum Corporation to establish two petrochemical complexes one in southern Taiwan and one in the UAE at a cost of $2.36bn, according to a China Times report of 3 July. A contract is due to be signed by the end of the year.
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