SIIG Forms Conversion JV; Postpones Merger with Petrochem

The Saudi Industrial Investment Group (SIIG; Riyadh) says it has established the Petrochemical Conversion Company (PCC)  at Jubail, Saudi Arabia with a capital of SR150 million ($40 million). PCC, an equally owned joint venture between SIIG and Arabian Chevron Phillips Petrochemical Co., is planning to develop several conversion projects, some of which depend on feedstock being produced at the sponsors’ affiliated plants. One of the projects would be a previously announced nylon 6,6 plant, the first such facility in Saudi Arabia. The conversion...

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