22:17 GMT +320 November 2018
Listen Live
    Saudi Arabia's Energy Minister Khalid al-Falih (File)

    Saudi Arabia Mulls Investment in Russian Petrochemical Plant

    © AFP 2018 / Ryad Kramdi
    Business
    Get short URL
    241

    MOSCOW (Sputnik) - Saudi Arabia’s state-run Saudi Aramco oil giant and Sabic, a diversified chemicals producer, want to invest in building a petrochemical plant in Russia, the kingdom’s energy minister said Wednesday.

    Khalid Falih added, in an interview with Rossiya 24 television channel, that these plans could be advanced by Saudi Arabia’s partnership with Sibur, a Moscow-based petrochemical company.

    "I hope that our cooperation with Sibur will allow Saudi Aramco and Sabic to invest in the construction of a petrochemical factory in Russia," he said.

    READ MORE: Saudi Arabia, Russia to Extend Agreement on Preserving Oil Market Stability

    Saudi Aramco and Sibur signed a tentative cooperation agreement last year. Russian Energy Minister Alexander Novak said at that time the two petrochemical giants planned to ink a $1.1-billion deal on a factory project in Saudi Arabia.

    Related:

    Russian, Saudi Energy Ministers Discuss Oil Market, Bilateral Ties - Ministry
    US Surpasses Russia, Saudi Arabia as World's No.1 Crude Oil Producer - EIA
    Russia, Saudi Arabia Seek New Super-OPEC Oil Alliance - Reports
    Tags:
    plant, investment, Khalid al-Falih, Russia, Saudi Arabia
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik