According to Acciona News, Singapore, December 7, Bloomberg Television reported that the next five years, Saudi petrochemical giant SABIC (Saudi basic industries) plans to invest 3 billion U.S. dollars-10 billion dollars for acquisitions.
The business of the company has been divided into three parts: petrochemical, specialty chemicals and agricultural nutrition.
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Yousef Abdullah Al Benyan, the chief executive of the company, said in an interview with Bloomberg Television in China: “Every business has a clear strategy for endogenous growth and business acquisitions.” Especially for specialty chemicals and petrochemicals, we have delightful options in parts of North America, China and Europe. ”
“We are very excited about those opportunities, 2018 years full of hope and some of the options will fall,” Al Benyan said at the Fortune Global Forum held in Guangzhou, China, from December 6 to 8th. ”
Al Benyan said China is a strategic market for the company and is seeking to expand its joint venture with Sinopec.
He said China’s plan to achieve self-sufficiency in petrochemical products was an opportunity for the company.
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