21 April 2014 04:56 [Source: ICIS news]
KARACHI (ICIS)--Spanish engineering firm Dragados has started construction on a 50,000 tonne/year polyacetal (POM) plant, owned by a joint venture led by petrochemical giant Saudi Basic Industries Corp (SABIC), in Jubail Industrial City on Sunday.
“SABIC likes to announce the start of construction work at the plant on 20 April so as to expand existing operations in the complex,” the world’s biggest petrochemicals group by market value, said in a filing to the Saudi stock exchange.
The project is expected to be completed by the first quarter of 2016, and trial operations of the project is expected in the second quarter of 2016 for a period ranging from three to six months, SABIC said.
Commercial operations are planned to start in the fourth quarter of 2016, it added.
National Methanol, better known as Ibn Sina, is 50%-owned by SABIC, while Celanese and an affiliate of Duke Energy Corp each hold a 25% stake.
The POM plant will receive methanol feedstock from Ibn Sina. POM is an engineered performance chemical product specifically used in automotive industries, as well as in mechanical and construction fields. It also has many other industrial applications.
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