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.