Saudi Basic Industries Corporation (SABIC) has acquired an additional 25 percent stake in its joint venture in Saudi Methanol Company (Ar-Razi) with the Japan Saudi Arabia Methanol Company (JSMC) in a $150 million deal. SABIC also simultaneously extended its partnership with JSMC in Ar-Razi for 20 years, for which JSMC agreed to pay SABIC $1.35 billion.
