RIYADH: Saudi Basic Industries Corp. (SABIC) plans to expand investment in US shale gas projects through joint ventures, according to acting CEO Yousef Al-Benyan.

SABIC signed an agreement with a Houston-based firm to get shale gas, Al-Benyan was quoted as saying in a Bloomberg report.

Sabic won’t be directly involved in Saudi Arabia’s shale production, he said.

The discovery of shale gas in the country will “open up some opportunities for indirect investments for Sabic,” Al-Benyan said.