07 January 2008 06:58 [Source: ICIS news]
DUBAI (ICIS news)--Saudi Advanced Polypropylene Co (APPC) said on Sunday that its plant at Jubail Industrial City is progressing as scheduled and production will start in the first quarter of 2008.
The project, which will produce 450,000 tonnes/year of polypropylene (PP), is 99.8% complete and cost has reached Saudi riyals (SR) 3bn ($810m), APPC executive president Ali Abderrazek al-Shaeir said in a statement to the Saudi stock exchange.
APPC was established as a joint stock company on 1 October 2005 and listed in the Saudi Stock market in Jan 2007 to develop an integrated propane dehydrogenation and polypropylene complex in ?xml:namespace>
The company will use proven technologies provided by ABB Lummus and Novolen Technology Holdings (NTH).
The product will be marketed locally and globally through approved partners with high-quality packaging materials, APPC said.
($1 = SR3.75)
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