Saudi Basic Industries Corp (Sabic) is considering setting up a polymer plant in Iran through an agreement with the National Petrochemical Co (NPC), reported the Gulf News on Tuesday.
"We would be interested in plant ownership opportunities as part of Sabic's ambitions to expand, either through strategic alliances or acquisitions,” president of Sabic's polymers group, Fahad Al Sheaibi was quoted as saying.
"We already have a good business relationship with National Petrochemical Co (NPC) through product swaps and marketing arrangements, and have for some time been in dialogue with Iran about joint cooperation in chemical facilities," he said.
The official was speaking on the sidelines of the three-day Dubai Plast Pro 2001, a plastics processing and applications congress, which began Monday.
No concrete proposal has been made yet, said the paper, adding that key details such as feedstock prices and operational facilities must be decided – Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)
