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Petchem for Saudi Industrial
2007-09-17 - AME Info | Saudi Arabia | Latest News - The Saudi Industrial Investment Group will double its capital to $1.2bn early next year in order to set up a petrochemicals firm, Petchem, which will form a joint venture (JV) with Chevron Phillips, reported Reuters citing the SPA. Saudi Industrial will also sell 50% of Petchem's shares in an initial public offering (IPO). Petchem will own 65% of the $4.8bn project with Chevron; the JV will build a petrochemicals complex.  

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