PETALING JAYA: The state oil company of Saudi Arabia, Saudi Aramco, has taken up strategic stakes in two petrochemical plants in Pengerang as part of its estimated US$7bil investment in the project.
The oil giant will be taking up a 50% stake in a plant that produces polymers for US$900mil (RM3.8bil) from Petronas Chemicals Group Bhd
(PetChem) and also absorb the proportionate share of borrowings tied to the plant.
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