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SABIC signs petchem project deal with China’s Shenhua

by ChemOrbis Editorial Team -
  • 31/05/2016 (15:35)
According to a statement on the company’s website, SABIC reached a project development agreement (PDA) with China’s Shenhua Ningxia Coal Industry Group, a subsidiary of Shenhua Group Corporation Limited, for the construction of a new coal-based petrochemical facility in the Ningxia Hui Region of China. The agreement is effective as of May 30, 2016.

The company gave no financial details for the planned project while the parties are now waiting to receive approvals from Chinese officials.

SABIC reported in statement that this project is part of the company’s current strategy to geographically diversify its operations and to seek future investment opportunities that open doors to new markets.
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