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BRIEF-Saudi's SABIC updates on joint venture with Exxon Mobil
April 19, 2017 / 1:01 PM / 8 months ago

BRIEF-Saudi's SABIC updates on joint venture with Exxon Mobil

April 19 (Reuters) - Saudi Basic Industries Corporation :

* Announces recent developments in its evaluation of establishing petrochemical joint venture project with Exxon Mobil in U.S. Gulf Coast

* Co, Exxon Mobil agreed on April 19, to choose county of San Patricio, Texas, to be site of potential project

* Co, Exxon Mobil will carry out further studies, other relevant requirements in order to make decision on establishing potential project

* Joint venture to include 1.8 mta Ethylene Production Unit, which will supply ethylene to other units to produce Ethylene derivatives

* Decision on establishing potential project expected to be sometime in 2018 Source:(bit.ly/2pB58iV) Further company coverage:

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