SABIC, Aramco, BNK Orlin Co-sign MoU to Discuss Growth Opportunities

SABIC signed a Memorandum of Understanding (MoU) with Saudi Aramco and (PKN Orlen to discuss potential growth or expansion projects, in the petrochemical sector, in Poland, Central and Eastern Europe.

The agreement aims to study several potential cooperation and investment opportunities, including the establishment of a new chemical production facility, in Poland, expansion of several existing assets, and development of a new cracker, operating on a global scale.

Collaborative approach that SABIC has adopted for more than 40-year, in all domains it operates, has enabled the company to build long-term relationships, provide innovative solutions and find a shared value, Eng. Abdul Rahman Al-Faqih, Executive Vice President of Petrochemicals, at SABIC, commented, stressing that the memorandum of understanding contributes to benefiting from the position, expertise and technologies of the three world-leading companies, contributing to identifying and evaluating promising and sustainable growth opportunities.

In the event of the completion of the research and study phase and the parties’ agreement to follow up on any potential project, in the petrochemical sector, a separate agreement will be concluded to cooperate, in the development of this project.

It is worth noting that BKN Orlen is the largest energy group, in Poland, specialized in the manufacture, distribution, wholesale and retail sale of refined petrochemical products, and the company operates several refineries, located in Poland, Lithuania and the Czech Republic.