Slightly up: An investor watching PetChem shares on the monitor. Petchem shares closed one sen higher yesterday. - AFP
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.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
