Aramco to acquire 50% stake in Petronas polymers project

Dhahran, Saudi Arabia – Saudi Aramco is paying around $900 million (€765 million) to acquire a 50% stake in the Petronas Chemicals Group (PCG) polymers project within the Petronas Pengerang Integrated Complex, Aramco announced 2 Oct.

The transaction for the project currently under construction in the southern Malaysian state of Johor near Singapore is expected to close on 15 March 2018.

In February, Aramco agreed to invest $7 billion to acquire a 50% stake in Petronas’s Refinery & Petrochemical Integrated Development (RAPID) refinery and steam cracker within…

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