Logo ofSaudi Basic Industries Corp. (SABIC)
Saudi Basic Industries Corp. (SABIC) signed today, July 16, an agreement with Rongsheng Petrochemical Co. to acquire a 30% to 50% stake in a subsidiary of the Chinese company. 
The investment relates to a new joint venture between SABIC and Rongsheng Petrochemical’s new materials unit, Bloomberg reported.
Meanwhile, Zhejiang Petroleum Chemical Co., a subsidiary of Rongsheng Petrochemical, announced plans to invest CNY 19.6 billion (SAR 10.2 billion) in a new project.
Logo ofSaudi Basic Industries Corp. (SABIC)
Saudi Basic Industries Corp. (SABIC) signed today, July 16, an agreement with Rongsheng Petrochemical Co. to acquire a 30% to 50% stake in a subsidiary of the Chinese company.
The investment relates to a new joint venture between SABIC and Rongsheng Petrochemical’s new materials unit, Bloomberg reported.
Meanwhile, Zhejiang Petroleum Chemical Co., a subsidiary of Rongsheng Petrochemical, announced plans to invest CNY 19.6 billion (SAR 10.2 billion) in a new project.
