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SABIC to launch a new domestic carbon fiber plant

April 11/2011

(Arabian Oil and Gas) -- Saudi Basic Industries Corporation (SABIC) is in talk with Japanese firms to establish a carbon fiber plant in Saudi Arabia, according to a Japanese media report.

Mitsubishi Rayon and Toray Industries are interested in joining hand with SABIC to establish a carbon fiber in Saudi Arabia due to the low production cost, The Nikkei newspaper quoted Mohammed Al Madi, CEO of SABIC, as saying. The two Japanese firms will start the initial studies of the project, and from our part, we will also look at the choices we have before taking a final decision, he added.

According to the Japanese newspaper, Mitsubishi initial estimations indicate that construction cost would range between USD 60 mln to USD 120 mln, with a total capacity of 2000 to 2.700 tonne per year. The plant is set to be located near the 250 KTa methyl methacrylate monomer, which being constructed by Mitsubishi in the Kingdom, and set to go on stream by 2013.

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