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SIIG and Arabian Chevron Phillips Plan Downstream Investments

4:20 AM MDT | July 6, 2010 | Natasha Alperowicz

Saudi Industrial Investment Group (SIIG; Riyadh) and Arabian Chevron Phillips (ACP) say they plan to diversify into downstream projects, which will provide products for a number of consumer needs in Saudi Arabia and the neighboring regions and require an investment of some SR1.8 billion ($480 million) from each partner. One of the projects will produce nylon 6,6, including adipic acid. Others will depend on raw materials available at the Jubail, Saudi Arabia site. The partners are currently building their third petrochemical joint venture at Jubail, which will be...

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