08 February 2007 07:52 [Source: ICIS news]
SINGAPORE (ICIS news)--Mitsui & Co, the Japanese trading major, was considering investing in a cracker project in Saudi Arabia, a company spokesman said on Thursday.
“It is one of the investments that we have been considering, but we haven’t decided on anything,” he said.
The spokesman declined to say when a decision will be made and what other projects the company was considering.
Saudi International Petrochemical (Sipchem) is to build a $7bn cracker complex at Al Jubail, ?xml:namespace>
The proposed complex was expected to start up in 2011.
Sipchem and its potential partners – Mitsui, DuPont and Lucite – which have signed a feedstock allocation letter with Saudi Aramco, were currently working on the final agreements, the Saudi firm said earlier.
These were expected to be signed in early 2007.
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