05 October 2009 14:29 [Source: ICIS news]
BERLIN (ICIS news)--Plans to add 400,000 tonnes/year of elastomers and carbon black capacities at the Kemya and Yanpet joint ventures in Saudi Arabia are progressing but still in the development stage, ExxonMobil Chemical president Stephen Pryor said on Monday.
“The activity level has ramped up,” he said in an interview with ICIS news on the sidelines of the 43rd annual European Petrochemical Association (EPCA) meeting.
“We are working well with our partners,” he said. “The infrastructure investments are advancing rapidly.”
ExxonMobil has contributed to investments in vocational and applications training centres related to the projects which will provide products largely targeted towards the automobile industry in the Kingdom.
A final investment decision on the elastomers projects with joint venture partner SABIC was expected in 2010 or 2011, ExxonMobil Chemical vice president, Marc Grainier, said at an industry conference in Dammam, Saudi Arabia, according to a report on Reuters.
The total investment value was estimated at $5bn (€3.5bn) with on-stream dates between 2013 and 2014.
($1 = €0.69)
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