SABIC, Shell to conduct joint studies on POSM, polyols project

12 November 2012 08:28  [Source: ICIS news]

SINGAPORE (ICIS)--SABIC and Anglo-Dutch energy firm Shell will jointly conduct studies on propylene oxide styrene monomer (POSM) and polyols projects, as a means of expanding their partnership in Saudi Arabia, the Saudi petrochemical giant said on Monday.

Necessary studies will be conducted before the two companies take a final investment decision on the projects, SABIC said in a filing to the Saudi Stock Exchange or Tadawul.

No specific timelines were provided on the studies.

The two companies have an existing 50:50 joint venture in Saudi Arabia Petrochemical Co (SADAF).

“SABIC and Shell have also agreed to build on their strong long-term relationship to explore international petrochemical opportunities beyond SADAF and Saudi Arabia,” SABIC said.

By: Pearl Bantillo
+65 6780 4359

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