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Saudi Basic Industries Corporation (SABIC) announces the signing of a memorandum of understanding with the Fujian Provincial Government of the Republic of China
Saudi Basic Industries Corporation (SABIC) announces the signing of a Memorandum of Understanding (MoU) with the Fujian Provincial Government of the Republic of China on 11th September 2018. The Memorandum sets out the framework of cooperation between the two parties to enable SABIC to develop a world scale Petrochemical complex located in Fujian. The MoU does not have a definitive timelines.
The MoU is part of SABIC's strategy to diversify its operations, seek new investment opportunities and strengthen its position in the Chinese market.
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The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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