SABIC's Petrokemya signs deal to build ABS plant in Saudi Arabia

11 June 2012 03:54  [Source: ICIS news]

SINGAPORE (ICIS)--SABIC subsidiary Petrokemya has signed a deal with Spanish oil engineering firm Tecnicas Reunidas to build a acryilonitrile-butadiene-styrene (ABS) plant at Jubail in Saudi Arabia, the chemicals major said over the weekend.

The 140,000 tonne/year unit, an investment that will reach $561m (€449m), is expected to be mechanically competed in the fourth quarter of 2014, SABIC said in a statement on the Saudi bourse Tadawul on 9 June.

“The company is planning to finance it from its own resources,” SABIC said without elaborating further.

The ABS unit is expected to produce “a variety of grades of product” supporting the automotive and electrical appliance industries, among others, it added.

Petrokemya is a wholly owned subsidiary of SABIC.

($1 = €0.80)

By: Nurluqman Suratman

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