MOSCOW (MRC) -- Production from a 50,000 tonne-per-year polyacetal plant at an affiliate of Saudi Basic Industries Corp (SABIC) will start by early 2017, said Reuters, citing a SABIC official.
Saleh al-Zahrani, senior manager polyacetal, was speaking at an industry event in Dubai.
Construction work on the plant had begun in April 2014, and production had been originally scheduled to commence by the fourth quarter of 2016. SABIC previously said that the financial impact of the project would be disclosed after the launch of commercial operations.
The project National Methanol Co., also known as Ibn Sina, is 50-percent owned by SABIC, one of the world's largest chemical companies, while Celanese Corp and an affiliate of Duke Energy Corp each have a 25 percent stake.
As MRC informed earlier, Sabic projects its 2016 costs to rise by 5%. The company expects higher costs to make an immediate impact starting from its first quarter 2016 financial results.
Saudi Basic Industries Corporation (Sabic) ranks among the worldпїЅs top petrochemical companies. The company is among the worldпїЅs market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and fertilizers.
MRC