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Approval for Aramco-Dow Petchems JV Expected Soon; IPO Planned

12:19 PM MDT | July 22, 2011 | Natasha Alperowicz

Saudi Aramco and Dow Chemical, partners in a previously announced multibillion-dollar petrochemicals joint venture in Saudi Arabia, are expected to announce the go-ahead for the project “real soon,” a source tells CW. Final approval for the jv, likely to require an investment of $18 billion-$20 billion, could be made within the next few weeks. The complex will comprise more than 30 manufacturing units, half of which are expected to be online in the third quarter of 2015. CW has learned that the partners plan to float a part of the jv company on the...

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