Riyadh – Mubasher: Saudi International Petrochemical Company (Sipchem) on Tuesday announced that it was planning to carry on with its negotiations with Sahara Petrochemicals Company (Sahara) concerning their potential merger.

Sipchem took the decision on the back of the recent changes in the regulatory framework, according to the company’s statement to Saudi Stock Exchange (Tadawul).

Sipchem last reported that its profits surged by 914.85% to SAR 437.4 million during 2017 from SAR 43.1 million in 2016.