Bloomberg News

Sabic in Talks to Build Egypt Petrochemical Plant, Masry Reports

February 04, 2012

Feb. 4 (Bloomberg) -- Saudi Basic Industries Corp. is in talks with Egypt’s Industrial Development Authority to build a petrochemicals plant in Egypt, Cairo-based Al Masry Al Youm reported, citing Ismail el-Nagdy, the authority’s chairman.

Sabic is negotiating with the authority on land and the project’s location, the newspaper added, citing el-Nagdy.

--Editors: Linda Shen, Sara Marley

To contact the reporter on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net


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