RDIF, Sabic to invest in methanol facility in Russia

RIYADH, Oct 14 (PRIME) -- The Russian Direct Investment Fund (RDIF) and Saudi Arabia’s Sabic will invest in a methanol facility owned by ESN Group on Russia’s Far East, the RDIF said in a statement on Monday.

“The RDIF, the sovereign fund of the Russian Federation, and Saudi petrochemical corporation Sabic have agreed on joint investment in a project of ESN Group for construction of a methanol plant in the city of Skovorodino in the Amur Region,” the fund said.

The capacity of the first stage of the plant will amount to 1 million tonnes of methanol per year.

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