Dow, Saudi Oil Co. Launch $20B Chemical Plant Venture

Law360, New York (July 25, 2011, 7:17 PM EDT) -- Dow Chemical Co. and state-owned Saudi Arabian Oil Co. will launch a $20 billion joint venture to build and operate a chemical production complex in Jubail Industrial City, Saudi Arabia, the companies announced Monday.

The project will be called Sadara Chemical Co. and will become an equal joint venture between Midland, Mich.-based Dow and Saudi Aramco after an initial public offering, the companies said. The $20 billion total venture value includes investments from third parties.

The Sadara complex will be one of the world's largest integrated...
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