Saudi SABIC-Japan JV starts output at ex…
RIYADH, April 3 (Reuters) – Saudi Basic Industries Corp (SABIC) said it started on April 1 commercial production at a 2.8 million tonne expansion of a petrochemical joint-venture with Japanese partners including Mitsubishi .
In a statement posted on the bourse website, SABIC — the world’s biggest chemical firm by market value — said the third expansion phase of Sharq would bring the overall capacity of the complex to 5 million tonnes per year.
Sharq is a joint venture equally owned by SABIC and SPDC Ltd, a Japanese consortium led by the government of Japan and a consortium of companies led by Mitsubishi.
(Reporting by Souhail Karam; Editing by Firouz Sedarat) Keywords: SABIC SHARQ/
(souhail.karam@thomsonreuters.com, +966 1 463 2603; Reuters Messaging: souhail.karam.reuters.com@reuters.net)
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