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(ICIS) -- US-based Dow Chemical and state
oil firm Saudi Aramco have given the final approval to their proposed joint
venture project to build and operate a chemicals complex in Jubail Industrial
City, Saudi Arabia, valued at USD 20bn (EUR 14bn), they said on Monday.
The companies" boards of directors have given authorisation for the joint
venture, named Sadara Chemical Company, following an extensive project
feasibility study and front-end engineering and design (FEED) effort, which
began in 2007.
Construction of the facility will begin immediately and the first
production units will come on line in the second half of 2015, with all units
expected to be up and running in 2016.
The complex will comprise 26 manufacturing units and include a
world-scale cracker and production units for polyurethanes (isocyanates,
polyether polyols), propylene oxide (PO), propylene glycol, elastomers, linear
low density polyethylene (LLDPE), low density polyethylene (LDPE), glycol ethers
and amines. It will produce over 3m tonnes/year of high value-added chemical
products and performance plastics, Dow Chemical and Saudi Aramco said.
mrcplast.com
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