Riyadh – Mubasher: The Saudi Arabian Oil Co, known globally as Saudi Aramco is holding discussions with Russia-based, Sibur Holding PJSC, to establish a joint venture (JV) of synthetic rubber in the Kingdom, two informed sources said.
Besides the Saudi King Salman bin Abdulaziz visit to Russia in October he may sign a memorandum of understanding (MoU) about the JV, Bloomberg reported, citing the two informed sources as saying.
King Salman will visit Moscow from 4 until 7 October, a source in the Russian capital told Sputnik on Thursday.
Sibur is the Russian largest petrochemical producer.
“In 2015, Aramco invested in a venture with Germany’s Lanxess AG that makes elastomers, which are used to make golf balls bouncier and chewing gum softer,” the agency concluded.
