UAE's Petrochem to Purchase Saudi Chemical Firms
02.18.2019 - NEWS

February 18, 2019 [MENAFN] - UAE's Petrochem Middle East unveiled a decision to purchase Saudi-based chemical manufacturing firms.

Petrochem Middle East “is going to acquire smaller companies that make specialty chemicals or chemicals that are produced in the region,” its CEO Yogesh Mehta revealed to Arabian Business.

According to the CEO, “we’re looking at companies in the GCC to buy, or even India, and add to our portfolio and add and increase our range of chemicals.”

Mehta further noted that “future growth will come from acquiring smaller companies, and we’re doing that.”

He added that the firm has entered ongoing efforts to launch a “huge” storage and chemical facility in Dammam, a city in Saudi Arabia.

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