SABIC postpones $1.5 billion oil cracker project in Holland

SABIC Europe has decided to put the development of the cracker project on the Geleen-site (the Netherlands) on hold. The investment costs and financial risks are too high to realise a financially sound project on the Geleen site today.

SABIC remains committed to its strategy of growth for the important European market. To realize this strategy, all options like upgrading of the current asset base, supply from the global SABIC system to strengthen the existing portfolio will be reviewed in the coming months.

Sabic