Joint venture partners in petrochemical complex to launch IPO in 2016
Oil giants Saudi Aramco and the US’ Dow Chemical will sell a 30 per cent share of their Sadara Chemical Company joint venture in the next five years.
Khalid al-Falih, president and chief executive officer of Aramco, has told reporters that the partners in the scheme would make a decision regarding the launch after holding talks with capital market authorities.
The official also said that the partners would use all sources of debt available to fund the project.
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