Saudi’s SAHARA Petrochemicals, Ma’aden to complete units in late ’12

08 July 2011 05:37  [Source: ICIS news]

SINGAPORE (ICIS)--Saudi Arabia’s SAHARA Petrochemicals and mining company Ma’aden are scheduled to complete their joint venture project comprising caustic soda and ethylene dichloride (EDC) plants in the fourth quarter of 2012, a source close to the company said on Friday.

The project comprises a 250,000 tonne/year caustic soda plant and 300,000 tonne/year EDC facility, which will be built in SAHARA’s complex at Jubail Industrial City, the source added.

The project is a $750m (€525m) investment funded through bank loans and a loan from the Saudi Industrial Development Fund, according to a statement by SAHARA.

SAHARA Petrochemicals and Ma’aden each hold a 50% stake in the project. 

($1 = €0.70)

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By: Feliana Widjaja

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