Riyadh – Mubasher: Saudi Basic Industries (SABIC) said it signed an agreement with both Shenhua Ningxia Coal Industry Group Co.(SNCG) and the government of the Ningxia Hui Autonomous Region of China.
The three parties agreed on a set of principles for cooperation in the further development of a potential joint venture between SABIC and SNCG to build a greenfield coal-to-chemicals complex.
The facility will focus on highly differentiated applications and segments through polymers derivatives.
The project will be located in the Ningxia Hui Autonomous Region. The agreement includes certain commitments from the Ningxia Government to provide support and incentives to the project, while also providing a framework for coordination and cooperation between the three parties in connection with the project approval process.
