59 Days
Source:
الاقتصادية
Saudi SABIC Seeks 50% Stake in Chinese Rongsheng Unit
The Saudi Basic Industries Corporation (SABIC) is exploring a potential investment to acquire a stake ranging between 30-50% in a subsidiary of China’s Rongsheng. The aim is to participate in a new project focused on developing new materials. The exact size of the potential deal has not been specified; however, Zhejiang Petroleum & Chemicals, a subsidiary of Rongsheng, plans to invest approximately $2.9 billion in the project. The investment involves collaboration between SABIC and Rongsheng to develop a project involving new chemical materials and products to achieve mutual growth.
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