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Mitsubishi Rayon and SABIC announced new joint venture

May 31/2011

(Mitsubishi Rayon) -- Mitsubishi Rayon Co., Ltd. and Saudi Basic Industries Corporation (SABIC) have announced the formation of a joint venture company, to build and operate two plants one for Methyl Methacrylate (MMA), and the other for Polymethylmethacrylate (PMMA) at one of SABICs manufacturing affiliates in Jubail, Saudi Arabia. The next phase of this project will focus on the basic engineering design, completion of: supply agreements, regulatory approvals and necessary details for the JV incorporation, implementation and execution activities.


The MMA plant will be the largest ever built, with a 250 KTa capacity. It will use Lucite Internationals (LI) Alpha technology, which was first commercialised with its Alpha 1 plant which began operation in Singapore in November 2008. LI is a subsidiary of MRC acquired in 2009. The PMMA plant will be based on Mitsubishi Rayon technology and will have an annual capacity of 40 KT.


Koos Van Haasteren, SABIC Executive Vice President, Performance Chemicals, commented the joint venture operation would be the basis for a strategic entry into the acrylics business. We will be building on a breakthrough technology, with a strong partnership and integrated feedstock, he said. Moreover, the global market for MMA is growing at a rapid pace. New applications are driving this increase in demand and we are committed to meeting our customer growth requirements worldwide.


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