Sipchem extends gas supply agreement with Linde till Q3 2020 end

26/04/2020 Argaam

 

Sahara International Petrochemical Co. (Sipchem) said that negotiations with the German chemical firm Linde Plc to set up and operate a production facility in Saudi Arabia to supply industrial gases are still going, according to a bourse statement on Sunday.

 

Both parties agreed to extend the initial agreement signed in December 2019 till the end of the third quarter of 2020.

 

The statement further explained that the companies faced some challenges in conducting visits to the manufacturing sites as part of confirmatory due diligence under current circumstances.

 

According to data compiled by Argaam, Sipchem signed in December 2019 a memorandum of understanding (MoU) with Linde Plc to meet growing demand from the refining and chemical industries, as well as to develop the new production facilities to supply industrial gases in Saudi Arabia.

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