Middle East Economic Survey

VOL. XLVII

No 29

19-July-2004

SAUDI ARABIA

SHARQ To Study $2.3Bn Ethylene Project

Eastern Petrochemical Company (SHARQ), which is owned on a 50:50 basis by Saudi Basic Industries Corporation (SABIC) and Japans Saudi Petrochemical Development Company (SPDC) is to study the possibility of setting up a $2.3bn venture with capacity to produce 1.2mn tons/year of ethylene, beginning in 2008. The plan was announced in Tokyo on 9 June by SPDC, a consortium that includes...