Saudi Basic Industries Corp. (SABIC) and Kayan Petrochemicals Company have signed this week an initial Memorandum of Understanding appointing SABIC as a partner in Kayan project, Jeddah-based 'Arab News' reported. According to the MOU, SABIC is required to review all works, studies, agreements and update the respective feasibility study in no later than two months. The two parties will enter into a final agreement should they agree upon the results.
