Riyadh – Mubasher: Saudi Arabian Oil Co (Aramco) on Monday announced signed an unbinding memorandum of understanding (MoU) with DOW Chemical to increase the latter’s share in Sadara by 15%.
Saudi Aramco currently owns 65% of Sadara, while DOW Chemical owns 35%. If the deal is finalised, the companies will own 50% each.
Sadara is currently constructing the world’s largest chemical complex ever built in a single phase, with 26 integrated world-scale manufacturing plants that will produce more than three million tons of products every year.
