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Shell’s 50% share in SADAF sold to Sabic

by ChemOrbis Editorial Team - content@chemorbis.com
  • 17/08/2017 (11:23)
According to a press release published on Shell’s web site, the company completed the sale of its 50% share in the joint venture, SADAF, to Saudi Basic Industries Corp (SABIC) for USD820 million.

The sale, which will not affect Shell’s other interests in Saudi Arabia, was initially announced in January this year. The completion followed anti-trust filings in the relevant countries and regulatory approval from Saudi Arabia, the release said.

This acquisition will enable SABIC to optimize operations at SADAF and further invest in the facilities, integrating them with SABIC’s other affiliates. This step will allow Shell to focus on its downstream activities and make selective investments to support the growth of its global chemicals business, the company stated.

SADAF was established in Al Jubail as a joint venture between SABIC and Shell Arabia in 1980. The venture included 6 petrochemical plants with a total chemicals capacity of 4 million tons/year including for ethylene, ethanol and styrene.
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