Joint venture with Exxon-Mobil

Saudi Basic Industries Corporation (SABIC)

Our attorneys represented SABIC in the creation of a joint venture with Exxon-Mobil  to build and operate an over US $7.0 billion petrochemical plant producing ethylene and ethylene derivatives in San Patricio County, Texas.  We were lead counsel for SABIC in obtaining FTC clearance for the transaction. Yousef Al-Benyan, SABIC Vice-Chairman and CEO remarked, “The proposed venture would capture competitive feedstock, capitalize on the growing global demand for ethylene-based products, and reinforce SABIC’s strong position in the value chain.”

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