InterviewTASNEE seeks growth through diversifying its product portfolio

06 April 2011 15:07  [Source: ICIS news]

TASNEE seeks growth through diversifying its product portfolioDUBAI (ICIS)--National Industrialisation Co (TASNEE) is interested in pursuing growth through diversifying its product portfolio to include chemicals, petrochemicals, metals and conversion products, the CEO of the Saudi Arabia-based company said on Wednesday.

TASNEE is always on the lookout for suitable partnerships or acquisitions, said Moayyed al-Qurtas.

Al-Qurtas was speaking to ICIS during the Gulf Petrochemicals and Chemicals Association (GPCA) plastics summit in Dubai, United Arab Emirates.

Al-Qurtas declined to discuss specific opportunities the company is currently considering, saying only that any deals that were to materialise would be announced in due course.

TASNEE is involved in joint ventures with Saudi Polyolefins and Saudi Ethylene and Polyethylene Co (SEPC).

In addition, TASNEE and Sahara Petrochemical Co have signed a deal with Linde and Samsung Engineering Co to build an acrylic acid and derivatives complex at Al-Jubail, Saudi Arabia, which is expected to come on stream in the first quarter of 2013. A superabsorbent polymers (SAP) plant at the facility is to come on line shortly thereafter.

The SAP unit is a joint venture with TASNEE, Evonik Industries and Sahara Petrochemicals.

“We are working on the designs and preparations for the contract for the feedstock of propylene oxide [PO] from Petro Rabigh for our new polyether polyols facility,” he said.

Al-Qurtas said the company hopes to start up the plant before the fourth quarter of 2014, adding that the polyols unit’s nameplate capacity would be 120,000 tonnes/year. Petro Rabigh and TASNEE signed the deal last year.

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By: Ong Sheau Ling
+65 6780 4359

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