The Saudi National Petrochemicals Manufacturing Company recently signed a joint venture with the German Basell Company, a worldwide chemicals and petrochemicals producing company.
Under the contract, a joint polypropylene manufacturing plant, costing some 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 annually.
The Saudi assistant minister of defense and civil aviation, Prince Fahd Bin Abdul-Aziz, attended the signing ceremony of the agreement, according to the London-based Al-Sharq Al-Awast daily.
Polypropylene is widely used in the packaging, bottling, plastics and engineering industries. –(MENA Report)
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