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24-Aug-2016

SABIC and Aramco to sign investment agreements in China

Mohamed Al-Ajlan, Vice President of Saudi-Chinese Business Council, announced that there would be economic agreements signed during Saudi Arabia's Deputy Crown Prince's official visit next week to China. According to Al Madina newspaper, the economic agreements will include investment agreements involving Saudi Arabian Basic Industries Corporation (SABIC) [2010.SE] and Saudi Arabian Oil Company (Aramco). The news source also noted that during this visit, company executives from china and businessmen from Saudi Arabia would be meeting up to discuss potential agreements. The news source also mentioned that several Saudi government executives had received approval to attend the visit to discuss several sectors such as the energy sector. (Argaam)   SABIC: SAR83.94 as of 23 August 2016, Rating: Neutral, FV: SAR90.00 per share, MCap: USD67,152mn, SABIC AB / 2010.SE  

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