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SABIC not to pursue investment with SHELL

SABIC not to pursue investment with SHELL
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Saudi Basic Industries Corp. (SABIC) said it is not going to pursue its investment with SHELL to expand their partnership at their joint venture project, the Saudi Petrochemical Company (SADAF), according to a bourse statement.
The two companies had earlier agreed to expand their partnership at SADAF, through jointly conducting the necessary studies to implement the project, prior to making any final investment decision. However, the study results were not encouraging.
SABIC asserts that its relations with SHELL will continue through the exploration of any other expansion opportunities.