Why SABIC is so important to Saudi Arabia

08 Oct

When Mohammed bin Salman, Crown Prince of Saudi Arabia, recently reaffirmed in an interview with Bloomberg the commitment to sell shares in Saudi ARAMCO by 2021, he made it clear that part of the reason for the longer time frame was the need to protect and enhance SABIC, the Kingdom’s premier industrial conglomerate.

The prospect of ARAMCO and SABIC competing in downstream petrochemicals was not an attractive one for Saudi policymakers, so a strategic decision was taken to merge the two companies some time next year....READ MORE

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