Saudi Basic Industries Corporation (Sabic), a global leader in chemicals, plans to build a petrochemicals plant in the city of Jubail on the Gulf coast in the Eastern Province of Saudi Arabia. This will be after a similar plant in South Korea starts production by year-end, CEO Yousef Abdullah Al-Benyan told Asharq TV.

 

Al-Benyan added that the company views the Korean market as a launch pad to expand in Asia.

 

The announcement came as Saudi Arabia’s Crown Prince held talks with the President of South Korea at the Al-Yamamah Palace in Riyadh.

 

During their meeting, Crown Prince Mohammed bin Salman and Moon Jae-in reviewed bilateral relations between the two countries and ways to support and enhance them in all fields.

 

Meanwhile, Saudi Aramco said it had signed 10 agreements during a Saudi-Korean investment forum held in conjunction with the president's visit.-- TradeArabia News Service