The Saudi National Petrochemicals Manufacturing Company recently signed a joint venture with the German Basell Company, a worldwide chemicals and petrochemicals producing company.
The Saudi Assistant Minister of Defense and Civil Aviation, Prince Fahd Bin Abdul-Aziz, attended the signing ceremony of the agreement, according to London based Al-Sharq Al-Awast daily.
Under the contract, a joint polypropylene manufacturing project costing two billion Saudi riyals ($533 million) is to be established in the Jubeil Industrial Estate. During the first half of 2003, the company is expected to produce 450,000 tons of polypropylene.
Polypropylene is widely used in the packaging, bottling, plastics and engineering industries. –(MENA Report)
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