03 September 2009 17:45 [Source: ICIS news]
(adds paragraph 5)
HOUSTON (ICIS news)--A subsidiary of Arabian American Development has signed a three-year contract to supply more than 5m lb/year (2,268 tonnes/year) of C5 to a polyethylene (PE) plant owned by an unnamed Middle Eastern joint venture (jv), the company said on Thursday.
The joint venture is made up of a major European petrochemical maker and a national Middle Eastern petrochemical company, Arabian American said.
Arabian American's subsidiary, South Hampton Resources, will provide all of the C5 that the joint venture needs for the plant, the company said. The C5 will be produced at South Hampton's plant in Silsbee, Texas.
Altogether, Arabian American expects to earn $15m-21m (€11m-15m) over the three years of the contract.
Products produced at Silsbee include isopentane, pentane and cyclopentane.
($1 = €0.70)
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