Saudi Basic Industries Corporation (SABIC) plans to build a new plant complex to be located at the Yanbu industrial site on the Red Sea coast of Saudi Arabia.
The new cracker, which is expected to come on-stream in 2007, will have an annual production capacity of 1.3 million metric tons (mt/y), according to a SABIC press release. In addition, other new plants will be constructed with capacities of 800,000 mt/y of polyethylene, 700,000 mt/y of ethylene glycol and 350,000 mt/y of polypropylene.
The announcement was made at a recent SABIC Board meeting; chaired by SABIC's Chairman and President of the Royal Commission for Jubail and Yanbu, Prince Saud Bin Thunayan Al-Saud.
The Board reviewed 2003 activities, and discussed plans and budgets for the coming year. For 2004, the Board has committed to increase capacities, develop SABIC's contribution to the National Development Program and enhance SABIC's competitiveness in the global petrochemicals industry.
Based in Riyadh, Saudi Arabia, SABIC was founded in 1976, when the Saudi Government decided to use hydrocarbon gases released in the production of oil as raw material for the production of chemicals, polymers and fertilizers. SABIC has two large industrial sites in the Kingdom with sixteen production complexes. — (menareport.com)
© 2003 Mena Report (www.menareport.com )