01 April 2010 15:45 [Source: ICIS news]
LONDON (ICIS news)--National Methanol Co (Ibn Sina), a joint venture between Celanese Corp and SABIC, is to construct a 50,000 tonne/year polyacetal (POM) production facility at Al-Jubail, ?xml:namespace>
US-based international chemicals producer Celanese said it expects the engineering and construction of the facility to begin later this year, adding that the total invested capital in the project was approximately $400m (€296m).
Celanese said the investment was part of the future growth plans for its advanced engineered materials segment, and that the facility would also support SABIC’s regional business development.
The Ibn Sina joint venture would run through to 2032, Celanese added.
The start-up of the POM facility would see Celanese's stake in Ibn Sina increase from 25% to a total of 32.5%, it said.
SABIC’s interest, which stands at 50%, would remain unchanged, Celanese added. The remaining shares are owned by an affiliate of Duke Energy Corp.
Ibn Sina produces methanol, a key feedstock for POM production, as well as methyl tertiary butyl ether (MTBE).
($1 = €0.74)
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