Saudi firm plans China petrochemical investment

Saudi-based polyolefin maker Saudi Basic Industries Corp, which did a US$1 billion in China sales last year, said it would invest in mainland petrochemical production facilities. in China, despite cheaper production costs in its Middle East home market. Yousef Al-Benyan, general manager of the company's Asia Pacific unit, said China, which accounts for half the company's regional sales, was a key part of the firm's expansion plans.