SABIC looking at acquisition opportunities, says Al-Benyan

Saudi Basic Industries Corporation (SABIC) is evaluating potential investments at a total value of up to $6 billion in petrochemicals, specialty chemicals and fertilizers segments, chief executive Yousef Al-Benyan told Reuters on the sidelines of the Euromoney Saudi Arabia Conference 2017.

The Saudi petrochemicals producer is looking to conclude the first deal in the fourth quarter of this year, he added.

SABIC is seeking these acquisitions in North America, China and Africa.

He said SABIC was very positive regarding economic growth in key markets the United States and China, and focusing more on Africa and on emerging markets generally in the longer term.