Al Jubail initiating a petrochemical shareholder company

According to BNA, Al Jubail industrial city will announce soon initiating a petrochemical shareholder company with a total finance exceeding 2.5 Billion US Dollars.
40 percent of the shares will be floated to underwriting to be registered in Saudi stock market. The Managing Director of the five - party Industrial Investment Engineer Subhi Mohammed Al Hashim declared to Al Riyadh newspaper that the company has completed project concerning development studies. He also noted that negotiations is running with Aramco Saudi company to specify natural gas needed to this project. Al Hashim also added that Al Dar for Petrochemicals will start production by the year 2009 to meet the current and future demand of domestic and international markets.