SABIC Chairman Prince Saud Ibn Abdullah Ibn Thunayan Al-Saud has stated that the partnership with Sinopec will include the initiation of three projects with an estimated total cost of USD4bn, adding that the: i) first project will be an expansion to Tianjin venture in China; ii) second project is a polycarbonate project which will also be located in China; and iii) third project will be located in Saudi Arabia (did not give much detail). The new projects will be financed through the company’s own resources and debt. Finally, with regard to the joint project with China's Shenhua Ningxia Coal Industry Group, the company is close to finishing the study phase.
 
SABIC: SAR97.08 as of 16 Mar. 2017, Rating: Neutral, TP: SAR105.00/share, MCap: USD77,664mn, SABIC AB/2010.SE