Saudi Basic Industries Corp. announces signing initial non-binding Memorandum of Understanding with RDIF and ESN Group
| Element List | Explanation |
|---|---|
| Introduction | SABIC announces signing initial non-binding Memorandum of Understanding (MoU) with RDIF (Russian Direct Investment Fund) and ESN Group on Monday 14th October 2019. This is a prelimeray step towards exploring the cooperation between the three parties to evaluate building and operating a methanol plant with a capacity of up to 2 million tons per annum in the Amur Region of Russia.
The MoU is part of SABIC's strategy to diversify its operations, seek new investment opportunities and strengthen its position in the global market |
| Memorandum Signing Date | 2019-10-14 Corresponding to 1441-02-15 |
| Counterparty | RDIF & ESN Group |
| Memorandum Subject | Build and operate a methanol plant with a capacity of up to 2 million tons per annum |
| Memorandum Duration | 12 months from date of signing the MoU, with possibility of extension |
| Related Parties | Nil |
| Financial Impact | Nil |
| Additional Information | Nil |
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