Dow Chemical Could Invest $20 Billion in Saudi Arabia: FT

Dow Chemical is close to deal to build a $20 billion petrochemical plant in Saudi Arabia, the Financial Times reported late Thursday.

The deal could be announced Saturday and would be the largest foreign investment in the Saudi energy sector the paper said.

For Dow the deal offers low-cost oil for plastics and for the Saudi Arabian government it would provide chemicals expertise, the FT said.