ExxonMobil, SABIC continue to evaluate Saudi elastomers project

07 December 2010 13:16  [Source: ICIS news]

LONDON (ICIS)--ExxonMobil and SABIC continue to evaluate their proposed elastomers and carbon black joint-venture project in Saudi Arabia, a spokesman for US-based ExxonMobil said on Tuesday.

“SABIC and ExxonMobil are working together to optimise the proposed expansion project,” said George Pietrogallo in a statement to ICIS.

“Part of that work includes evaluating the best location for several of the derivatives units.”

Some of the derivatives units could be moved from Yanbu to Al-Jubail, Pietrogallo added, without providing further details.

The project was expected to be spread between the Kemya and Yanpet complexes, which are the existing joint ventures between SABIC and ExxonMobil located at Al-Jubail and Yanbu, respectively.

In November 2008, SABIC announced that the 50:50 joint venture would produce more than 400,000 tonnes/year of carbon black, rubber and thermoplastic specialty polymers to serve emerging local and international markets.

Media reports had estimated the total investment value at $5bn (€3.8bn).

($1 = €0.75)

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By: Anna Jagger
+44 20 8652 3214

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