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SIIG, Chevron-Philips tie up
- Saudi Arabia: Tuesday, September 18 - 2007 at 10:36
The Saudi Industrial Investment Group (SIIG) is teaming up with Chevron-Phillips to establish a new $4.8bn petrochemical company, reported Arab News. SIIG will have a 65% stake in the new plant, which will produce adipic-acid and nylon, while Chevron-Philips will hold the remaining 35%. The project is likely to start production in the last quarter of 2011.
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Jeff Florian, Senior ReporterTuesday, September 18 - 2007 at 10:36 UAE local time (GMT+4)
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