AlQa'dah 10, 1432, Oct 8, 2011, SPA -- Saudi Aramco President and Chief Executive Officer Khalid A. Al-Falih and Dow Chairman and Chief Executive Officer Andrew N. Liveris signed here today the Joint Venture (JV) Shareholders' Agreement for Sadara Chemical Company. On this occasion, Saudi Aramco President and Chief Executive Officer Khalid A. Al-Falih delivered a speech in which he said "Sadara is a milestone for Saudi Aramco and a cornerstone of our transformational downstream growth strategy, which will add further value to our significant petroleum value chain. As the world's largest integrated and most reliable supplier of energy and petroleum-based derivative products, our strengths complement those of Dow, the world's foremost chemicals company with a global track record and unique suite of chemicals technology." "I am confident that Sadara will be a game-changer in the Kingdom's petrochemical industry as it has all the needed ingredients for success. Sadara is expected to deliver annual revenues of approximately $10 billion within a few years of operation while contributing significantly to Saudi Arabia's industrial diversification. The JV will be instrumental in Saudi Arabia's strategy to become not only a strategic chemicals and plastics producer, but also a hub for future downstream manufacturing," Al-Falih added. --More
