Saudi Arabia to invest in Russian petrochemicals plant, potential deals with France and China

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Oil major Saudi Aramco and the kingdom’s petrochemicals giant Saudi Basic Industries Corporation (SABIC) are ready to invest into building a processing plant in Russia, according to Saudi Energy Minister Khalid al-Falih. The minister said that the Saudi partners are hoping to cooperate with Sibur, Russia’s largest petrochemicals firm. “I hope our cooperation with Sibur will allow Saudi Aramco and SABIC to invest into building of a petrochemical plant in Russia,” al-Falih told Rossiya 24, Russia’s 24-hour news channel. The minister also said that Saudi Arabia is currently discussing the opportunity of building a synthetic rubber plant in the Saudi city of Jubail with French energy major Total, China’s Sinopec, and Russia’s Sibur.

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This post originally appeared on SOTT.net

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