Saudi Basic Industries Corporation (SABIC) [2010.SE], has set a primary framework with Shenhua Ningxia Coal Industry Group Company (SNCG) and the government of Ningxia Hui Autonomous Region of China for the proposed JV to build a petrochemicals complex in China. The proposed petrochemicals complex will be built in Ningxia Hui Region in China and will utilise coal feedstock, supplied by SNCG. The agreement includes commitments set by SABIC, SNCG and Ningxia’s government  to ease coordination between the three parties. These commitments include incentives that will be provided by Ningxia’s government to support the proposed JV. SABIC’s CEO, Yousef Al-Benyan noted in the release that SABIC would be looking for other opportunities to create strategic relationships in the Chinese petrochemical sector. (Company disclosure, Argaam)   SABIC: SAR82.61 as of 31 August 2016, Rating: Neutral, FV: SAR90.00 per share, MCap: USD66,088mn, SABIC AB / 2010.SE