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SABIC is mulling increasing its investment in National Petrochemical Co's (NPC's) 1.1m tonne/year Olefins No 7 project by taking equity in the entire cracker complex in Bandar Imam, Iran, several sources close to the project told ACN.
The Saudi Arabian major currently holds a 30% stake in a 300 000 tonne/year low-density polyethylene (IdPE) project planned downstream of the No 7 cracker through its European subsidiary, Sabic EuroPetrochemicals (Sabic EPC).
A joint-venture company - Laleh Petrochemical - has been formed for the project. The other shareholders of Laleh are NPC (45%) and a local private company, Poushineh (25%).
One of the sources said Sabic...