RIYADH: Saudi Basic Industries Corporation (SABIC) plans to build a petrochemicals plant in the city of Jubail on the gulf coast in the Eastern Province, after a similar plant in South Korea starts production by year-end, CEO Yousef Abdullah Al-Benyan told Asharq TV on Tuesday.
Al-Benyan added that the company views the Korean market as an opportunity to expand in Asia.
The announcment came as Saudi Arabia’s crown prince held talks with the President of South Korea at the Al-Yamamah Palace in Riyadh on Tuesday.
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.
Also on Tuesday, Saudi Aramco said it had signed 10 agreements during a Saudi-Korean investment forum held in conjunction with the president’s visit.
* With Reuters