Saudi companies interested in stake in Polish petrochemicals
PR dla Zagranicy
Peter Gentle
24.04.2012 14:56
Polish prime minister Donald Tusk has taken part in the Polish-Saudi Business Forum in Riyadh, where the head of government is drumming up more business ties with the Arab nation.
PM Tusk with Saudi businessmen: photo - PAP/radek Pietruszka
Tusk, who is on a four-day trip to the region, is also having talks with the ministers, as well as delegates from oil and mineral companies, and those from the higher education, health and defense sectors.
On Monday PM Tusk had talks at a “summit level” with King Abdullah.
Tusk said later that Saudi Basic Industries, the world's biggest petrochemical firm, has shown interest in buying stakes in Polish chemical companies and co-operating with PKN Orlen, Poland’s state-backed oil giant.
"It is very likely that apart from SABIC's active participation in a potential privatisation of Polish firms, a mutual enterprise on quite a large scale in the petrochemical sector between Orlen and SABIC will be possible," Tusk told the Polish Press Agency (PAP).
Saudi Arabia is the most economically developed Arab country, producing nearly 25 percent of the region’s GDP.
In 2011 trade between Poland Saudi Arabia reached 544 million USD.
Poland exports mainly mechanical and electrical equipment, foodstuffs, animal products, furniture, paper products and the tires. (pg)