Saudi Basic Industries Corporation (Sabic) and affiliates of Exxon Mobil announced that they will construct an elastomers facility at the Al-Jubail Petrochemical Company (Kemya) manufacturing joint venture. The facility will be integrated with the existing Jubail complex and completion is anticipated in 2015.
With a total investment of US$ 3.4 billion, which will be financed from shareholder and/or third party debt, the facility will have the capacity to produce up to 400,000 tons per year of rubber including halobutyl, styrene butadiene, polybutadiene, and ethylene propylene diene monomer rubbers.
Established in 1980, Kemya is a 50-50 joint venture between Sabic and Exxon Chemical Arabia Inc., an affiliate of Exxon Mobil Chemical Company.
Established in 1976, Sabic specializes in the manufacture and distribution of petrochemicals, basic, intermediate and industrial chemicals, plastics, metals, fertilizers and polymers; production of gases and materials used in medical equipments, computers, trucks and cars; aluminum smelting; operation, maintenance, management, expansion and construction of seawater cooling, desalinated and treated water and sanitary and industrial waste water systems; generation, distribution and transmission of electricity; ownership and operation of petrochemical carriers; engineering thermoplastic materials solutions; and investment in the petrochemical industry.
Established in 1999, Exxon Mobil specializes in the exploration, production and refining of crude oil and gas; production and distribution of lubricants, greases, fuel oils and natural gas liquids; manufacture of petrochemicals including ethylene, polyethylene, propylene and polypropylene; and electric power generation.
The Mena Weekly Monitor – Bank Audi
6 July
Sabic and Exxon Mobil to proceed with $3.4 billion elastomers project in Jubail
The Mena Weekly Monitor - Bank Audi
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