SABIC, UCC sign deal to build petchem JV in Kazakhstan

Saudi Basic Industries Corporation (SABIC), Saudi Arabia’s largest non-oil company and a global leader in diversified chemicals, has signed a renewable six-month agreement with state-owned United Chemical Company to study developing a petrochemical complex in Kazakhstan.

The new complex, which will be located in the city of Atyrau in Kazakhstan, will be subject to regulatory approvals.

The project is part of the Saudi petrochemical giant’s strategy aimed at geographical diversification and expansions in new markets.