The joint venture will design, build and operate a polyacrylic acid and emulsion polymers plant in Saudi Arabia.
Canada Business Holdings secured licence to produce refined products in the Special Economic Zone in Duqm in Oman on 30 June 2020.
In the past two years, ADNOC has enhanced its strategic energy links with India – a key growth market for crude, refined and petrochemical products.
The company has announced the beginning of preconstruction work for its phase III oil storage terminals and refinery.
SABIC has said the two companies are now considering the integration of Saudi Aramco’s existing refineries in Yanbu with a mixed feed steam cracker and downstream olefin derivative units.
ADNOC Global Trading is on track in establishing the required processes, procedures and systems to begin operations in the coming months.
Sumitomo Chemical and Saudi Aramco have made a loan of US$2 billion to Petro Rabigh in response to the challenging market conditions.
OQ Chemicals has entered into an agreement to licence technology for the production of ethylene and propylene derivatives to Duqm.