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(AFX UK Focus) 2005-05-25 00:01 GMT:
Mitsubishi Corp boosts stake in Saudi petrochemical firm - report
TOKYO (AFX) - Mitsubishi Corp has increased to 21 pct from 7 pct its stake inSPDC Ltd, a consortium of Japanese companies and the Japan Bank forInternational Cooperation, which is involved in a petrochemical joint venturewith Saudi Arabia, the Nihon Keizai Shimbun reported, without citing sources.SPDC works with Saudi Basic Industries Corp to operate a joint venture withEastern Petrochemical Co (SHARQ), the business daily said.Following the increase in stake, the trading company is now the second largeststakeholder in SPDC next to the Japan Bank for International Cooperation,
itsaid.Yasuhiko.Seki@xfn.comys/tr