Sabic cancels plan to co-build projects with Shell

Sabic will not pursue its agreement with Shell, whereby the two firms agreed to explore the possibility of building styrene monomer, propylene oxide and polyols projects, a filing to Tadawul said.
 

Sabic said the results of the initial studies were no encouraging, but said it will continue to develop its relations with Shell through exploration of expansion opportunities.

The agreement was signed in 2012, and no financial impact is expected due to its cancellation, it said.