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SABIC factorySABIC Saudi Arabia Is Looking For Investment Opportunities In Africa
By Reuters On October 28, 2018
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The world's fourth largest petrochemical company is looking for future investment opportunities in Africa, which he described as a promising market to maintain sales growth, Chief Executive Officer Yousef Al-Bunyan said on Sunday.
Al-Bunyan told a news conference that the prospects for activities in the United States, Asia and China remain positive despite some challenges due to high energy prices.
On the talks on Aramco's acquisition of a controlling stake in SABIC from the public's largest public investment fund, Al Bunyan said the issue was between a major shareholder and a future investor. SABIC is not involved in the matter at this time.
SABIC earlier reported third-quarter net profit growth of 5.4% thanks to higher average selling prices and increased sales volumes.
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