Saudi Sabic says chemicals project in China to cost $3-4 billion
The joint project would be a ‘greenfield petrochemical complex’ located in the Ningxia Hui Region of China
Saudi Basic Industries Corp (SABIC) expects its coal-to-chemicals project in China with Shenhua Ningxia Coal Industry Group to cost $3-4 billion, its acting CEO told Al Arabiya News Channel on Thursday.
“The project is approximately $3-4 billion and we expect it to be ready in 2020,” Yousef al-Benyan said.
SABIC signed the agreement in May. The joint project would be a “greenfield petrochemical complex” located in the Ningxia Hui Region of China and would help the Saudi company diversify its feedstock sources.