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Sabic halts Trinidad project plan

Riyadh, March 4, 2013

 

Saudi Basic Industries Corp. (Sabic) is halting plans to develop a $5.3 billion methanol complex in the Caribbean nation of Trinidad and Tobago, a report said.
 
Sabic decided not to continue with negotiations for the complex after the "relevant parties did not reach a deal on the fundamental conditions for this project", the Saudi gazette report said quoting a Sabic statement.
 
The project was expected to be a partnership with Sinopec Corp., one of China’s three major state-owned oil companies.



Tags: sabic | petrochemical | Trinidad |

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