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China & KSA to trade in crude oil & refined products, SABIC
06 May '08
2 min read
On SABIC's growing business in China, he pointed out to the company's recent Heads of Agreement with Sinopec worth $1.7 billion to build petrochemical plants in Tianjin.
“This will be SABIC's first joint venture in China and we hope this will lead to more joint ventures and a strong relationship with Sinopec in the important China market,” he said.
Speaking about SABIC and globalization, Al-Mady said that the company made a decision some years ago, to transform itself from a strong regional player to a major global player.
More recently the company's strategic plan to the year 2020 sets a target for SABIC to be among the very top tier of companies in the industry, he said.
“This will be SABIC's first joint venture in China and we hope this will lead to more joint ventures and a strong relationship with Sinopec in the important China market,” he said.
Speaking about SABIC and globalization, Al-Mady said that the company made a decision some years ago, to transform itself from a strong regional player to a major global player.
More recently the company's strategic plan to the year 2020 sets a target for SABIC to be among the very top tier of companies in the industry, he said.
Saudi Basic Industries Corporation
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