GPCA: SABIC and Shell looks at POSM plans

22 November 2012 16:26  [Source: ICB]

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 recently.

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: John Baker
+44 20 8652 3214

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