Under the terms of the MoU, the companies will study several possible collaboration and investment opportunities that include a new chemical production facility in Poland and the expansion of several existing assets, along with developing a new world-scale cracker.
“For more than 40 years and in every region, SABIC’s collaborative approach has built longstanding relationships, delivered innovative solutions and created mutual value. By bringing together the scale, expertise and technologies of three world-leading companies, this MOU enables us to identify and assess opportunities for ambitious and sustainable growth,” said Abdulrahman Al-Fageeh, SABIC’s executive vice president for petrochemicals.
Once the firms have completed the exploration phase – and providing they agree to pursue a potential project – they will enter into a separate joint development agreement.
Author: Elaine Burridge, Freelance Journalist
