Russia’s largest petrochemical company, Sibur, is considering building a petrochemical complex in Saudi Arabia with more than $1 billion in investments, Al Arabiya TV has reported, citing Russian President Vladimir Putin before his visit to the Kingdom on Monday.

 

The Russian Direct Investment Fund (RDIF) has a $10 billion investment partnership with the Public Investment Fund (PIF), more than $2.5 billion already invested in projects, the President told Al Arabiya, Sky Nеws Arabia and RT Arabic.

 

Sibur is a supplier of petrochemical products to chemical, automotive and construction industries, among others.

 

Russia and Saudi Arabia have so far funded and approved bilateral projects worth $2.5 billion across several sectors, including artificial intelligence, infrastructure, transport, and medicine.

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