SABIC still in Sinopec Tianjin cracker talks

26 March 2007 07:14  [Source: ICIS news]

SINGAPORE (ICIS news)--Saudi Basic Industries Corp (SABIC), the world’s biggest chemical maker by market value, was still in talks with Chinese major Sinopec to form a joint venture for the Tianjin cracker project, a senior company official said on Monday.

Mustafa Al-Sahan, general manager for Sabic’s Asia-Pacific investments in China, denied a Bloomberg report on Friday which said that the Middle Eastern major has taken a stake in the yuan (CNY) 21bn ($2.7bn) project.

“The information is incorrect,” he added.

($1=CNY7.73)

By: Florence Tan
+65 6780 4359

< previous article(VIDEO - ICIS news Asia Lunchtime Bulletin 30 October 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly