Shell selling 50% SADAF stake to SABIC

Royal Dutch Shell PLC will sell its 50% interest in the Saudi Petrochemical Co. (SADAF) joint venture to Saudi Basic Industries Corp. (SABIC), its partner, for $820 million.

The joint venture agreement was to have expired in 2020.

The SADAF complex, on 460 acres in Jubail, Saudi Arabia, comprises an ethylene plant, two styrene plants, a salt plant, an ethyl chloride-caustic plant, a methyl tertiary butyl ether plant, and a cogeneration plant.

It produces an average of more than 4 million tonnes/year of chemicals from ethane, benzene, methane, butane, and salt brine.

SABIC and Shell formed the venture in June 1980. Ethylene production began in October 1984.

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