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(Arabian Oil and Gas) -- Saudi
Industrial Investment Group (SIIG) has posted USD 117.5m profits during the
first seven months on 2011, a 188% increase compared to the USD 40.85m posted
during the same period last year.
The company also said that it posted USD 16.13m profits during the month
of July, compared to USD 4.03m losses for the same period year ago.
SIIG has three nearby operational downstream projects in joint venture
with Chevron Philips including Saudi Chevron Philips which produces Benzene and
Cyclohexane, Jubail Chevron Phillips which includes an olefins cracker that is
integrated with world-scale Ethyl Benzene and Styrene production facilities, in
addition to the National Petrochemical Company (Petrochem), which is under
construction and set to produce 1,165 million tonne of ethylene and other
olefins and polyolefins.
In addition, the company announced plans to establish a USD 533.3m joint
venture with Arabian Chevron Phillips to produce nylon 6.6 slated for completion
by 2013.
mrcplast.com
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