Saudi Basic Industries Corporation (SABIC) inked a renewable six-month memorandum of understanding (MOU) on Saturday with United Chemical Kazakhstan to study developing a petrochemical complex, it said in a statement to Tadawul.

 

The new complex, which will be located in the city of Atyrau in Kazakhstan, will be subject to regulatory approvals.

 

The project is part of the Saudi petrochemical giant’s strategy aimed at geographical diversification and expansions in new markets. 

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