VOL. XXXIX

No. 34

20-May-1996

SAUDI ARABIA

SABIC Announces $2Bn Expansion Project for Yanpet

The Saudi Basic Industries Corporation (SABIC) on 13 May unveiled plans for the long-awaited $2bn expansion project at the Saudi Yanbu Petrochemical Company (Yanpet) - its 50/50 joint venture with Mobil Yanbu Petrochemical Company, a subsidiary of Mobil Oil of the US. Announcing the new project - Yanpet-2 - SABIC's Vice Chairman and Managing Director, Mr. Ibrahim ibn Salamah, said the...