Sabic to market 200 kt/yr of Alujain PP from Yanbu plant

25 July 2005 11:42  [Source: ICIS news]

LONDON (CNI)--Saudi Basic Industries Corp (Sabic) confirmed on Monday that it has concluded an initial agreement with Alujain to market 200,000 tonne/year of its polypropylene (PP) output from a new plant in Yanbu, Saudi Arabia.

 

Sabic stressed, however, that the marketing agreement does not include a share of Alujain's capital or the investment of Riyal421m (about $112m/Euro93m) in the plant, as claimed in a report on Sunday in the Al Riyadh newspaper.

 

Alujain has a stake in the privately owned National Petrochemical Industrial Company which plans to build an approximately 400,000 tonne/year polypropylene plant at Yanbu, with start-up scheduled for 2007.

By: Mark Whitfield
+44 20 8652 3214

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