SABIC looking for Africa investment opportunities

RIYADH: Saudi Basic Industries Corp (SABIC), the world’s fourthbiggest petrochemicals company is looking for future investment opportunities in Africa, which is a promising market to maintain sales growth, its chief executive said yesterday.

The outlook for business in the US, Asia and China remain positive despite some challenges due to high energy prices, Yousef alBenyan told a news conference.

Earlier, SABIC reported a 5.4 per cent rise in third-quarter net profit on Sunday, citing higher average selling prices and increase in sale volumes.