Saudi Alujain appoints financial advisor for new petrochemical project
The Saudi Alujain Corporation has appointed a financial advisor to evaluate the feasibility study for a new petrochemical project, reported Al-Watan. The name of the advisor was not released.
The feasibility study analyzes the potential of the Al-Fasel propylene project. With an estimated output capacity of 300,000 tons of propylene annually, the project will supply petrochemicals for the Teldene polypropylene plant, which will be operated by Alujain’s owned National Petrochemical Industrial Company (Natpet).
Established in 1991 as a closed joint stock company, Alujain went public in 1997. It retains close ties with the Xenel Group, the Jeddah-based company that created Alujain. It is one of the kingdom's leading business families, having traded throughout the Gulf Cooperation Council (GCC) countries in various industries. The company’s activities include mining, metals and petrochemicals. — (menareport.com)
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