Business | Oil & Gas
Sabic plans to invest in Indian petrochemicals
Saudi Basic Industries Corporation (Sabic) is looking to build a petrochemical plant in India, a company official said on Friday.
- Reuters
- Published: 00:33 April 19, 2008
New Delhi: Saudi Basic Industries Corporation (Sabic) is looking to build a petrochemical plant in India, a company official said on Friday.
Sabic signed a pact this year to build an ethylene derivatives complex in China. "We are looking at investing in India's petrochemical sector. We are looking for production in India," Sabic's business development manager Nasser Al Turki told reporters at a meeting of Arab and Indian oil and gas officials.
Asked the size of the investment, he said: "We have interest and if you have interest, you don't have numbers," suggesting that the investment is not limited by numbers.
Sabic currently supplies some petrochemical products in India.
"India is a big market. India is an important and growing market for Sabic," Turki said.
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