Sabic affiliate ships 1st export production of Acetone
Saudi Basic Industries Corporation (SABIC) on Monday declared that its affiliate, Saudi Kayan Petrochemical Company (SAUDI KAYAN), has shipped its first export production of Acetone, a part of the phenolic chain used to make Methyl Methacrylate (MMA), Polycarbonate (PC), solvents, adhesives and paints. The initial shipment amounted to some 1,600 metric tons from the Port of Jubail, on Saudi Arabia’s Gulf Coast.
SABIC noted that the shipment is bound for manufacturing customers in the Indian market, and that some of the Acetone produced at the plant will be also used by other units at SAUDI KAYAN to produce high-value PC.
SABIC’s Performance Chemicals Strategic Business Unit (SBU) reports the rated capacity of the Acetone plant at SAUDI KAYAN at 140,000 metric tons per year. The giant new petrochemical complex at Jubail, will, when completed, have a combined capacity of more than 5.5 million metric tons per year of petrochemical products, some of which will feed further downstream business growth in Saudi Arabia.
SABIC owns 35 percent of SAUDI KAYAN, with 20 percent owned by Al-Kayan Petrochemical Company, and 45 percent by public shareholders.
- Kuwait fights budget deficit: Reexamining government salaries, expatriate labor
- Businessmen tortured in UAE
- State of the Arab World Economy report 2016: diversify, tax, slash subsidies
- Arab investors won't dump the Trump despite anti-Muslim remarks
- UAE economy minister projects high growth despite oil prices