SABIC signs MoU with Fujian government to establish new petrochemicals complex
SABIC has signed an MoU with Fujian Provincial Government (located in southeast China) on 11 September 2018 to set out the framework to establish a world scale Petrochemical complex in Fujian. Based on the company release, the subject MoU comes in line with SABIC’s strategy to diversify its operations and strengthen the company’s position in the Chinese market.
SABIC: SAR119.80 as of 11 Sep 2018, Rating: Neutral, TP: SAR110.00/share, MCap: USD95,840mn, SABIC AB/2010.SE
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