2014-2017 Exhibitions
Middle Eastern petrochemical firm Sabic and Royal Dutch Shell have shelved plans to expand an existing petrochemical joint venture in Saudi Arabia as the results of feasibility studies were not encouraging. Known as Sadaf, the joint venture project was expected to come up in Jubail, on the Gulf coast of Saudi Arabia, with plans first announced in 2012 to explore an expansion of the existing petrochemical plant.
“Shell and Sabic have agreed not to pursue this investment further but have agreed to continue to have constructive discussions to explore other opportunities for expansion,” a Shell spokesman said in a statement.
Sabic, one of the world's largest petrochemical groups, said the decision would not have any impact on its earnings. According to Sabic, the results of the (feasibility) studies were not encouraging to carry out the project.
The expansion was due to add polyols, propylene oxide and styrene monomer. Sabic did not say by how much the plant was due to be expanded and did not give an estimated cost either.
(PRA)
