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Saudi Basic Industries Corporation (SABIC) in a statement posted on the Tadawul stock exchange in Saudi Arabia said that the company has signed an initial agreement with the Fujian provincial government to construct a world-scale petrochemical complex here. 

There are no further details on the project available at the time this report is published.

This is the second investment Sabic has in China. The company currently own 50 per cent of stake in a joint venture with China’s Sinopec - Sinopec SABIC Tianjin Petrochemical Company (SSTPC).