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. (Reuters)

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.

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Last Update: Wednesday, 20 May 2020 KSA 09:48 - GMT 06:48
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