Riyadh – Mubasher: Petrochemicals giant Saudi Basic Industries Corporation (SABIC) has received all necessary regulatory approvals, including environmental authorization, to establish a petrochemical plant in a joint project with Exxon Mobil in the American Gulf Coast’s San Patricio County, Texas.

The project is expected to have a positive impact on the company's financials after the completion of the project and starting the commercial operations, according to SABIC’s statement to the Saudi Stock Exchange (Tadawul) on Thursday.