MOU Sabic, Saudi Aramco, PKN Orlen to Explore Petrochemical Expansion Projects in Europe
Sabic has entered into a MOU with Saudi Aramco and PKN Orlen for exploring the potential of petrochemical expansion projects in Poland, Central and Eastern Europe. Under the terms of the agreement, the investment opportunities will include a new chemical production facility in Poland, the expansion of various existing assets and development of a new world scale cracker.
Riyadh/Saudi Arabia – Sabic has recently signed a Memorandum of Understanding with Saudi Aramco and PKN Orlen for the exploration of potential petrochemical growth or expansion projects in Poland and Central and Eastern Europe. The agreement will enable studying of several potential collaboration and investment opportunities including a new chemical production facility in Poland, the expansion of several existing assets and development of a new world scale cracker.
Upon completion of the exploration phase and if the parties agree to pursue any potential petrochemical project, they will enter into a separate project joint development agreement (JDA).