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SIEC inks Sulfur purchase deal with Luberef

SIEC inks Sulfur purchase deal with Luberef
Luberef is a joint venture between Aramco and Jadwa Industrial Investment Group.
SIECO
4140
0.20% 25.05 0.05

Riyadh – Mubasher: Saudi Industrial Export Co (SIEC) signed an agreement with Saudi Aramco Base Oil Co. (Luberef) to purchase its full production of Sulfur which is 37,000 tonnes on Thursday, 25 January.

Luberef is a joint venture between Aramco, the world's largest oil producer, and Jadwa Industrial Investment Group.

The deal will last for one year, according to a statement on Tuesday to the Saudi Stock Exchange (Tadawul).

The contract’s financial impact will be announced later, and there are no related parties, the statement added. 

SIEC gave no further details on the value of the contract. 

SIEC’s stock rose 2.37%, closing Tuesday at SAR 151.90.