Saudi Basic Industries Corp. (SABIC) and China’s Shenhua Ningxia Coal Industry Group have signed a preliminary agreement to study the possibility of building a petrochemical complex in the Asian country’s Ningxia Hui region.
Under the deal’s terms, the two companies will conduct feasibility studies for the facility, which would produce raw materials, the Saudi-based petrochemical giant said in a statement to Tadawul.
The agreement came into effect today and will remain valid for three years.
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